Ecopetrol (NYSE:EC) Sets New 12-Month High at $12.64

Ecopetrol S.A. (NYSE:EC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $12.64 and last traded at $12.64, with a volume of 2077847 shares changing hands. The stock had previously closed at $12.49.

Analyst Ratings Changes

Several analysts recently issued reports on EC shares. Bank of America began coverage on Ecopetrol in a research note on Wednesday, August 23rd. They issued a “neutral” rating and a $11.50 price target for the company. StockNews.com initiated coverage on Ecopetrol in a research note on Thursday, August 17th. They issued a “hold” rating for the company. The Goldman Sachs Group increased their price objective on shares of Ecopetrol from $12.50 to $13.90 and gave the stock a “neutral” rating in a research note on Friday, August 18th. Finally, Citigroup cut shares of Ecopetrol from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research report on Wednesday, September 13th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.58.

Ecopetrol Price Performance

The firm has a market cap of $26.03 billion, a P/E ratio of 4.55 and a beta of 1.46. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $11.41 and its two-hundred day moving average is $10.63.

Ecopetrol (NYSE:EC) last issued its earnings results on Tuesday, August 8th. The oil and gas company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.08). The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.95 billion. Ecopetrol had a return on equity of 10.34% and a net margin of 16.74%. As a group, analysts anticipate that Ecopetrol S.A. will post 2.13 earnings per share for the current year.

Hedge Funds Weigh In On Ecopetrol

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Ecopetrol by 45.5% during the 2nd quarter. BlackRock Inc. now owns 7,161,233 shares of the oil and gas company’s stock worth $73,403,000 after buying an additional 2,239,289 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Ecopetrol by 395.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,388,012 shares of the oil and gas company’s stock valued at $35,472,000 after acquiring an additional 2,704,109 shares during the last quarter. Marshall Wace LLP lifted its holdings in Ecopetrol by 158.7% during the fourth quarter. Marshall Wace LLP now owns 3,232,841 shares of the oil and gas company’s stock worth $33,848,000 after acquiring an additional 1,983,223 shares during the period. Vanguard Group Inc. boosted its position in Ecopetrol by 5.5% in the third quarter. Vanguard Group Inc. now owns 2,984,353 shares of the oil and gas company’s stock worth $26,650,000 after purchasing an additional 156,689 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Ecopetrol by 215.8% in the 4th quarter. Millennium Management LLC now owns 2,381,687 shares of the oil and gas company’s stock valued at $24,936,000 after purchasing an additional 1,627,411 shares during the period. 1.29% of the stock is owned by hedge funds and other institutional investors.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.