Ecopetrol (NYSE:EC) receives new coverage from StockNews.com analysts

StockNews.com took over stock coverage of Ecopetrol (NYSE:EC – Get a Rating) in a research report released Thursday. The company has placed a “holding” rating on the shares of the oil and gas company.

A number of other brokerages have also recently released reports on EC. Goldman Sachs Group downgraded Ecopetrol from a “buy” rating to a “neutral” rating and set a target price of $14.70 for the stock. in a report on Wednesday, December 15. TheStreet upgraded Ecopetrol from a “b-” rating to a “c” rating in a Wednesday, December 15 report. Zacks Investment Research upgraded Ecopetrol from a “buy” to a “hold” rating in a Thursday, February 10, report. Finally, Morgan Stanley upgraded Ecopetrol from an “overweight” rating to an “equal weight” rating in a Tuesday, March 1, report. One equity research analyst gave the stock a sell rating and four gave the stock a hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.73.

Ecopetrol stock opened Thursday at $18.82. The company’s 50-day simple moving average is $16.21 and its 200-day simple moving average is $14.82. The stock has a market capitalization of $38.69 billion, a price/earnings ratio of 12.80, a P/E/G ratio of 0.14 and a beta of 1.62. Ecopetrol has a 12-month low of $11.52 and a 12-month high of $19.13. The company has a quick ratio of 1.43, a current ratio of 1.71 and a debt ratio of 0.92.

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Major investors have recently increased or reduced their stake in the company. Goldman Sachs Group Inc. increased its position in Ecopetrol by 19.9% ​​in the 4th quarter. Goldman Sachs Group Inc. now owns 273,118 shares of the oil and gas company valued at $3,521,000 after buying an additional 45,280 shares in the last quarter. Toroso Investments LLC increased its position in Ecopetrol by 9.9% in the 4th quarter. Toroso Investments LLC now owns 96,140 shares of the oil and gas company valued at $1,239,000 after buying an additional 8,690 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in Ecopetrol in Q4, valued at approximately $1,124,000. Millennium Management LLC acquired a new stake in Ecopetrol in Q4 valued at approximately $1,414,000. Finally, Itau Unibanco Holding SA acquired a new stake in Ecopetrol in the 4th quarter valued at approximately $9,986,000. Institutional investors and hedge funds hold 1.29% of the company’s shares.

About Ecopetrol (Get a rating)

Ecopetrol SA is engaged in the exploration, development and production of crude oil and natural gas. It operates through the following segments: Exploration & Production, Transportation & Logistics, and Refining & Petrochemicals. The Exploration and Production segment is engaged in the oil and gas exploration and production business.

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