Ecopetrol (NYSE:EC) Shares Up 2.6%

Ecopetrol S.A. (NYSE:ECGet Rating) shares shot up 2.6% during mid-day trading on Thursday . The company traded as high as $10.26 and last traded at $10.13. 13,882 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,070,445 shares. The stock had previously closed at $9.87.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered Ecopetrol from a “b-” rating to a “c” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.60.

Ecopetrol Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.46 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 0.05 and a beta of 1.59. The company’s 50-day simple moving average is $10.45 and its 200 day simple moving average is $13.94.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds and other institutional investors have recently made changes to their positions in EC. Schroder Investment Management Group grew its position in shares of Ecopetrol by 11.7% in the fourth quarter. Schroder Investment Management Group now owns 43,730 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 4,574 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Ecopetrol in the first quarter valued at about $47,000. Jane Street Group LLC acquired a new stake in Ecopetrol during the second quarter worth about $116,000. Credit Suisse AG grew its position in Ecopetrol by 10.8% during the second quarter. Credit Suisse AG now owns 11,308 shares of the oil and gas company’s stock worth $123,000 after buying an additional 1,105 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in Ecopetrol during the second quarter worth about $130,000. 1.44% of the stock is owned by institutional investors and hedge funds.

About Ecopetrol

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Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.

Further Reading

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