Ecopetrol S.A. (NYSE:EC) Receives $11.57 Consensus Price Target from Brokerages

Ecopetrol S.A. (NYSE:EC) has been assigned an average recommendation of “Reduce” from the four brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $10.35.

EC has been the topic of several research reports. Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $8.70 target price on shares of Ecopetrol in a research note on Monday, December 1st. Weiss Ratings upgraded Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Bradesco Corretora set a $12.00 price objective on Ecopetrol and gave the stock an “underperform” rating in a report on Wednesday, February 4th.

Ecopetrol Stock Performance

Shares of EC opened at $12.05 on Friday. Ecopetrol has a 12-month low of $7.80 and a 12-month high of $13.27. The company has a current ratio of 1.53, a quick ratio of 1.26 and a debt-to-equity ratio of 0.95. The company has a market cap of $24.76 billion, a PE ratio of 10.12 and a beta of 0.63. The stock has a 50-day moving average price of $11.19 and a 200-day moving average price of $9.97.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC bought a new position in shares of Ecopetrol during the 2nd quarter valued at $25,000. ORG Partners LLC grew its stake in shares of Ecopetrol by 301.3% during the fourth quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 1,928 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Ecopetrol by 221.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after buying an additional 2,685 shares during the period. Advisory Services Network LLC bought a new stake in shares of Ecopetrol in the 3rd quarter valued at about $40,000. Finally, Inspire Investing LLC purchased a new stake in Ecopetrol during the 4th quarter valued at about $88,000.

Ecopetrol Company Profile

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.