Ecopetrol S.A. (NYSE:EC) Raised to “Sell” at BidaskClub
BidaskClub upgraded shares of Ecopetrol S.A. (NYSE:EC) from a strong sell rating to a sell rating in a research note published on Saturday morning.
Several other research firms have also recently weighed in on EC. TheStreet upgraded Ecopetrol from a d+ rating to a c rating in a report on Wednesday, May 17th. Zacks Investment Research cut Ecopetrol from a hold rating to a strong sell rating in a report on Tuesday, April 25th. HSBC Holdings plc upgraded Ecopetrol from a hold rating to a buy rating and set a $11.00 price target on the stock in a report on Monday, June 5th. Morgan Stanley cut Ecopetrol from an overweight rating to an equal weight rating and reduced their price target for the stock from $9.40 to $8.00 in a report on Wednesday, May 31st. Finally, Scotiabank cut Ecopetrol from an outperform rating to a sector perform rating in a report on Thursday, June 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $10.25.
Shares of Ecopetrol (EC) opened at 9.15 on Friday. Ecopetrol has a one year low of $7.65 and a one year high of $10.36. The firm’s 50-day moving average is $9.07 and its 200-day moving average is $9.27. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 19.06 and a beta of 1.05.
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A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Ecopetrol by 10.7% in the first quarter. Renaissance Technologies LLC now owns 5,375,600 shares of the oil and gas company’s stock valued at $50,101,000 after buying an additional 520,300 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Ecopetrol by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 3,970,350 shares of the oil and gas company’s stock valued at $37,003,000 after buying an additional 47,901 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ecopetrol by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,143,927 shares of the oil and gas company’s stock valued at $29,301,000 after buying an additional 166,225 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Ecopetrol by 4.7% in the first quarter. Parametric Portfolio Associates LLC now owns 1,844,893 shares of the oil and gas company’s stock valued at $17,194,000 after buying an additional 82,540 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Ecopetrol by 3.1% in the first quarter. Legal & General Group Plc now owns 1,059,765 shares of the oil and gas company’s stock valued at $9,888,000 after buying an additional 32,000 shares during the last quarter. Institutional investors and hedge funds own 2.22% of the company’s stock.
Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.
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