Ecopetrol S.A. (NYSE:EC) has been assigned an average rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $10.20.

EC has been the subject of a number of recent analyst reports. BidaskClub raised Ecopetrol from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Zacks Investment Research raised Ecopetrol from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, July 11th. ValuEngine raised Ecopetrol from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co raised Ecopetrol from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a report on Wednesday, October 25th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Ecopetrol by 16.5% during the 2nd quarter. Renaissance Technologies LLC now owns 6,262,700 shares of the oil and gas company’s stock valued at $56,928,000 after acquiring an additional 887,100 shares during the last quarter. Vanguard Group Inc. raised its stake in Ecopetrol by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,319,861 shares of the oil and gas company’s stock valued at $30,178,000 after acquiring an additional 175,934 shares during the last quarter. APG Asset Management N.V. raised its stake in Ecopetrol by 118.5% during the 3rd quarter. APG Asset Management N.V. now owns 1,232,763 shares of the oil and gas company’s stock valued at $11,699,000 after acquiring an additional 668,500 shares during the last quarter. Harding Loevner LP raised its stake in Ecopetrol by 16.3% during the 2nd quarter. Harding Loevner LP now owns 1,064,010 shares of the oil and gas company’s stock valued at $9,672,000 after acquiring an additional 149,300 shares during the last quarter. Finally, Numeric Investors LLC raised its stake in Ecopetrol by 5.1% during the 2nd quarter. Numeric Investors LLC now owns 920,039 shares of the oil and gas company’s stock valued at $8,363,000 after acquiring an additional 45,000 shares during the last quarter. 2.17% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Ecopetrol S.A. (EC) Given Consensus Recommendation of “Hold” by Brokerages” was published by Watch List News and is the property of of Watch List News. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.watchlistnews.com/ecopetrol-s-a-ec-given-consensus-recommendation-of-hold-by-brokerages/1673960.html.

About Ecopetrol

Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.

Analyst Recommendations for Ecopetrol (NYSE:EC)

Receive News & Ratings for Ecopetrol S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol S.A. and related companies with Analyst Ratings Network's FREE daily email newsletter.