Ecopetrol (NYSE:EC) Trading Down 3.9% – Here’s What Happened

Ecopetrol S.A. (NYSE:EC)’s stock price traded down 3.9% on Thursday . The company traded as low as $12.32 and last traded at $12.3450. 1,996,793 shares traded hands during trading, a decline of 41% from the average session volume of 3,397,557 shares. The stock had previously closed at $12.85.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group reiterated a “neutral” rating and set a $8.70 price target on shares of Ecopetrol in a report on Monday, December 1st. Finally, Weiss Ratings raised Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Ecopetrol currently has a consensus rating of “Hold” and an average target price of $10.73.

Ecopetrol Trading Up 2.5%

The firm’s 50 day simple moving average is $10.36 and its two-hundred day simple moving average is $9.53. The stock has a market capitalization of $25.71 billion, a P/E ratio of 10.51 and a beta of 0.65. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EC. Smartleaf Asset Management LLC bought a new stake in shares of Ecopetrol during the second quarter valued at approximately $25,000. ORG Partners LLC grew its position in Ecopetrol by 301.3% in the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,928 shares during the period. Farther Finance Advisors LLC increased its stake in Ecopetrol by 221.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 2,685 shares in the last quarter. Advisory Services Network LLC acquired a new position in Ecopetrol during the third quarter worth $40,000. Finally, Straight Path Wealth Management acquired a new position in Ecopetrol during the third quarter worth $92,000.

Ecopetrol Company Profile

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.