Ecopetrol S.A. (NYSE:EC) Given Consensus Rating of “Reduce” by Analysts

Ecopetrol S.A. (NYSE:EC) has earned an average rating of “Reduce” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.14.

A number of equities analysts have weighed in on EC shares. Wall Street Zen lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of Ecopetrol from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Citigroup downgraded shares of Ecopetrol from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $18.00 in a report on Wednesday, June 3rd. Finally, UBS Group lifted their price objective on shares of Ecopetrol from $13.50 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC purchased a new position in Ecopetrol during the second quarter valued at approximately $25,000. ORG Partners LLC lifted its holdings in shares of Ecopetrol by 301.3% during the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,928 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Ecopetrol by 221.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 2,685 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Ecopetrol in the third quarter worth approximately $40,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Ecopetrol in the 2nd quarter valued at $58,000.

Ecopetrol Stock Down 2.0%

Shares of NYSE EC opened at $16.36 on Friday. The stock has a market capitalization of $33.62 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.69 and a beta of 0.45. Ecopetrol has a 1 year low of $8.27 and a 1 year high of $17.75. The company has a 50-day moving average price of $15.27 and a 200-day moving average price of $13.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.55 and a quick ratio of 1.30.

Ecopetrol (NYSE:EC) last issued its quarterly earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 EPS for the quarter. Ecopetrol had a return on equity of 12.38% and a net margin of 8.84%. On average, equities research analysts forecast that Ecopetrol will post 2.05 EPS for the current fiscal year.

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.