Ecopetrol SA (EC) Stock Price Down 4%
Ecopetrol SA (NYSE:EC)’s share price was down 4% on Monday . The stock traded as low as $8.80 and last traded at $8.89, with a volume of 254,783 shares changing hands. The stock had previously closed at $9.26.
Several equities analysts recently weighed in on EC shares. Morgan Stanley upgraded Ecopetrol SA from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $6.50 to $9.50 in a research report on Thursday, July 7th. Zacks Investment Research upgraded Ecopetrol SA from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $9.13.
The company’s 50-day moving average is $8.87 and its 200 day moving average is $8.68. The firm’s market cap is $18.36 billion.
A hedge fund recently raised its stake in Ecopetrol SA stock. Advisors Asset Management Inc. raised its position in Ecopetrol SA (NYSE:EC) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,997 shares of the company’s stock after buying an additional 27,358 shares during the period. Advisors Asset Management Inc.’s holdings in Ecopetrol SA were worth $1,689,000 as of its most recent SEC filing.
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.