Ecopetrol SA (EC) Shares Down 4%
Shares of Ecopetrol SA (NYSE:EC) traded down 4% during trading on Monday . The company traded as low as $8.80 and last traded at $8.89, with a volume of 254,783 shares traded. The stock had previously closed at $9.26.
A number of analysts have commented on the company. Morgan Stanley upgraded Ecopetrol SA from an “underweight” rating to an “equal weight” rating and upped their price target for the stock 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 for the company in a research report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.13.
The stock has a 50 day moving average of $8.86 and a 200-day moving average of $8.76. The firm’s market capitalization is $18.54 billion.
An institutional investor recently raised its position in Ecopetrol SA stock. Advisors Asset Management Inc. boosted its stake in shares of Ecopetrol SA (NYSE:EC) by 12.8% during the fourth quarter, according to its most recent 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 filing with the SEC.
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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