Shares of Ecopetrol S.A. (NYSE:EC – Get Free Report) reached a new 52-week high on Monday . The company traded as high as $15.41 and last traded at $15.4250, with a volume of 3143262 shares traded. The stock had previously closed at $15.01.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on EC shares. Weiss Ratings upgraded shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. Wall Street Zen downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. HSBC raised Ecopetrol to a “hold” rating in a report on Thursday, March 12th. Finally, Bradesco Corretora set a $12.00 price target on Ecopetrol and gave the stock an “underperform” rating in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ecopetrol currently has a consensus rating of “Reduce” and a consensus target price of $10.35.
Ecopetrol Stock Performance
Ecopetrol (NYSE:EC – Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.20 EPS for the quarter. Ecopetrol had a net margin of 7.64% and a return on equity of 10.89%. The firm had revenue of $7.64 billion for the quarter. Analysts expect that Ecopetrol S.A. will post 1.8 earnings per share for the current year.
Institutional Trading of Ecopetrol
Hedge funds and other institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd boosted its position in shares of Ecopetrol by 0.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 253,797 shares of the oil and gas company’s stock valued at $2,337,000 after purchasing an additional 1,100 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Ecopetrol by 7.1% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 21,180 shares of the oil and gas company’s stock worth $195,000 after buying an additional 1,400 shares during the period. ORG Partners LLC lifted its stake in Ecopetrol by 301.3% in the fourth quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 1,928 shares during the last quarter. St. Louis Financial Planners Asset Management LLC lifted its stake in Ecopetrol by 11.3% in the third quarter. St. Louis Financial Planners Asset Management LLC now owns 19,494 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 1,986 shares during the last quarter. Finally, Ping Capital Management Inc. boosted its holdings in shares of Ecopetrol by 5.1% in the fourth quarter. Ping Capital Management Inc. now owns 41,000 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 2,000 shares during the period.
About Ecopetrol
Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.
In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.
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