Shares of Ecopetrol SA (NYSE:EC) rose 3.2% during mid-day trading on Wednesday . The company traded as high as $8.48 and last traded at $8.48, with a volume of 799,271 shares trading hands. The stock had previously closed at $8.22.

EC has been the subject of a number of recent analyst reports. Morgan Stanley raised Ecopetrol SA from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $6.50 to $9.50 in a research report on Thursday, July 7th. Zacks Investment Research upgraded Ecopetrol SA from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, July 7th. Finally, Tudor Pickering upgraded Ecopetrol SA from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.83.

The firm has a 50-day moving average price of $8.74 and a 200 day moving average price of $9.03. The stock’s market cap is $17.52 billion.

A number of hedge funds have recently modified their holdings of the company. Raymond James & Associates bought a new stake in shares of Ecopetrol SA during the second quarter worth approximately $100,000. Flow Traders U.S. LLC bought a new stake in shares of Ecopetrol SA during the first quarter worth approximately $112,000. Alliancebernstein L.P. raised its stake in shares of Ecopetrol SA by 2.1% in the second quarter. Alliancebernstein L.P. now owns 12,774 shares of the company’s stock worth $122,000 after buying an additional 268 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Ecopetrol SA by 11.4% in the second quarter. Wetherby Asset Management Inc. now owns 15,531 shares of the company’s stock worth $148,000 after buying an additional 1,588 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in shares of Ecopetrol SA during the first quarter worth approximately $150,000. 2.26% of the stock is owned by hedge funds and other institutional investors.

About Ecopetrol SA

Ecopetrol SA is an oil company. The Company’s business segments include Exploration and Production; Transportation and Logistics, and Refining, Petrochemicals, and Biofuels. The Exploration and Production business segment includes exploration, development and production activities in Colombia and abroad.

5 Day Chart for NYSE:EC

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