Ecopetrol SA (EC) Trading Down 4.1%
Ecopetrol SA (NYSE:EC) was down 4.1% during trading on Monday . The stock traded as low as $8.18 and last traded at $8.20, with a volume of 537,775 shares traded. The stock had previously closed at $8.55.
Several equities research analysts recently commented on EC shares. Zacks Investment Research lowered shares of Ecopetrol SA from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Morgan Stanley upgraded shares of Ecopetrol SA from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $6.50 to $9.50 in a research note on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.13.
The company’s 50-day moving average price is $9.26 and its 200-day moving average price is $8.48. The firm’s market cap is $16.63 billion.
Several hedge funds have recently made changes to their positions in the company. Bailard Inc. purchased a new stake in shares of Ecopetrol SA during the fourth quarter worth about $3,435,000. Aberdeen Asset Management PLC UK increased its stake in shares of Ecopetrol SA by 2.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 324,700 shares of the company’s stock worth $3,084,000 after buying an additional 8,600 shares in the last quarter. Morgan Stanley increased its stake in shares of Ecopetrol SA by 64.2% in the fourth quarter. Morgan Stanley now owns 226,252 shares of the company’s stock worth $1,586,000 after buying an additional 88,426 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Ecopetrol SA by 12.8% in the fourth quarter. Advisors Asset Management Inc. now owns 240,997 shares of the company’s stock worth $1,689,000 after buying an additional 27,358 shares in the last quarter.
Ecopetrol SA is an oil company. The Company’s business segments include Exploration and Production; Transportation and Logistics, and Refining, Petrochemicals, and Biofuels. The Exploration and Production business segment includes exploration, development and production activities in Colombia and abroad.
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