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.
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.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Ecopetrol right now?
Before you consider Ecopetrol, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Ecopetrol didn’t make the list.
Although Ecopetrol currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here