Ecopetrol (NYSE:EC) Hits New 12-Month High – Time to Buy?

Shares of Ecopetrol S.A. (NYSE:EC) hit a new 52-week high on Tuesday . The stock traded as high as $13.12 and last traded at $13.2150, with a volume of 734692 shares trading hands. The stock had previously closed at $12.68.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EC shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $8.70 price target on shares of Ecopetrol in a research report on Monday, December 1st. Zacks Research raised shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Ecopetrol currently has an average rating of “Hold” and a consensus target price of $10.73.

Ecopetrol Stock Up 2.2%

The business’s 50 day simple moving average is $10.41 and its 200 day simple moving average is $9.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.26. The company has a market capitalization of $26.65 billion, a PE ratio of 10.91 and a beta of 0.65.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds have recently modified their holdings of EC. Smartleaf Asset Management LLC acquired a new position in shares of Ecopetrol during the 2nd quarter worth $25,000. ORG Partners LLC grew its position in shares of Ecopetrol by 301.3% in the fourth quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,928 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Ecopetrol by 221.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 2,685 shares during the last quarter. Advisory Services Network LLC acquired a new position in Ecopetrol during the third quarter worth approximately $40,000. Finally, Straight Path Wealth Management acquired a new position in Ecopetrol in the third quarter valued at $92,000.

About Ecopetrol

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.