Ecopetrol (NYSE:EC) Now Covered by StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Ecopetrol (NYSE:EC – Get Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the oil and gas company’s stock.

Several other brokerages have also recently issued reports on EC. HSBC cut shares of Ecopetrol from a “buy” rating to a “hold” rating and lowered their target price for the company from $12.50 to $12.00 in a report on Friday, February 10th. UBS Group cut shares of Ecopetrol from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, February 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Ecopetrol from $12.40 to $11.00 and set a “neutral” rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Ecopetrol Trading Down 1.9 %

Shares of NYSE:EC opened at $9.89 on Thursday. Ecopetrol has a 52 week low of $8.59 and a 52 week high of $19.81. The company’s 50 day moving average is $11.07 and its two-hundred day moving average is $10.28. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.78. The company has a market cap of $20.33 billion, a PE ratio of 2.60 and a beta of 1.41.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds have recently modified their holdings of EC. Penserra Capital Management LLC acquired a new stake in shares of Ecopetrol in the first quarter worth approximately $47,000. Quadrant Capital Group LLC lifted its position in Ecopetrol by 46.6% during the fourth quarter. Quadrant Capital Group LLC now owns 5,834 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 1,855 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in Ecopetrol during the third quarter valued at approximately $89,000. Jane Street Group LLC acquired a new position in Ecopetrol during the second quarter valued at approximately $116,000. Finally, Mutual Advisors LLC acquired a new position in Ecopetrol during the third quarter valued at approximately $118,000. 1.30% of the stock is owned by institutional investors and hedge funds.

Ecopetrol Company Profile

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Ecopetrol SA engages in the exploration, development, and production of crude oil and natural gas. It operates through the following segments: Exploration and Production, Transportation and Logistics, and Refining and Petrochemicals. The Exploration and Production segment deals with oil and gas exploration and production activities.