Ecopetrol S.A. (NYSE:EC) Receives $10.73 Average PT from Analysts

Shares of Ecopetrol S.A. (NYSE:EC) have received an average rating of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.7333.

EC has been the subject of several recent research reports. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $8.70 target price 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.

Hedge Funds Weigh In On Ecopetrol

Institutional investors have recently bought and sold shares of the company. Stokes Family Office LLC increased its holdings in shares of Ecopetrol by 25.2% during the 2nd quarter. Stokes Family Office LLC now owns 212,808 shares of the oil and gas company’s stock worth $1,883,000 after buying an additional 42,819 shares during the last quarter. Oaktree Capital Management LP lifted its holdings in Ecopetrol by 12.3% in the second quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock valued at $31,416,000 after acquiring an additional 387,700 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Ecopetrol in the second quarter valued at approximately $2,525,000. Capital Fund Management S.A. grew its position in Ecopetrol by 529.6% in the second quarter. Capital Fund Management S.A. now owns 165,697 shares of the oil and gas company’s stock worth $1,466,000 after acquiring an additional 139,381 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Ecopetrol during the second quarter worth $2,236,000.

Ecopetrol Stock Down 5.1%

EC stock opened at $12.20 on Tuesday. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 10.25 and a beta of 0.65. The company has a current ratio of 1.53, a quick ratio of 1.26 and a debt-to-equity ratio of 0.95. Ecopetrol has a 12 month low of $7.80 and a 12 month high of $12.98. The firm has a 50-day moving average of $10.32 and a two-hundred day moving average of $9.50.

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.