Ecopetrol (NYSE:EC) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Ecopetrol S.A. (NYSE:EC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.17 and traded as high as $14.69. Ecopetrol shares last traded at $14.4410, with a volume of 2,988,055 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Weiss Ratings raised Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of Ecopetrol from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Zacks Research lowered shares of Ecopetrol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Citigroup cut shares of Ecopetrol from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $18.00 in a report on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $13.14.

Ecopetrol Stock Down 0.1%

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.55 and a quick ratio of 1.30. The stock has a fifty day moving average price of $14.63 and a two-hundred day moving average price of $13.20. The company has a market cap of $30.18 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 0.76 and a beta of 0.45.

Ecopetrol (NYSE:EC) last announced its quarterly earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter. Ecopetrol had a return on equity of 12.38% and a net margin of 8.84%. On average, research analysts expect that Ecopetrol S.A. will post 2.18 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Fundamenta Capital S.A. bought a new stake in Ecopetrol in the 4th quarter worth about $20,135,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Ecopetrol by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,890 shares of the oil and gas company’s stock worth $14,107,000 after buying an additional 41,075 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ecopetrol by 9.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,190,268 shares of the oil and gas company’s stock valued at $10,534,000 after acquiring an additional 102,505 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ecopetrol by 7.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 935,639 shares of the oil and gas company’s stock valued at $9,375,000 after acquiring an additional 64,614 shares in the last quarter. Finally, Militia Capital Partners LP increased its position in shares of Ecopetrol by 16.1% during the second quarter. Militia Capital Partners LP now owns 556,200 shares of the oil and gas company’s stock valued at $4,922,000 after acquiring an additional 77,000 shares during the last quarter.

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.