Ecopetrol (NYSE:EC) Shares Gap Down to $10.34

Ecopetrol S.A. (NYSE:ECGet Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $10.34, but opened at $10.08. Ecopetrol shares last traded at $9.68, with a volume of 71,566 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Ecopetrol in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.60.

Ecopetrol Price Performance

The company has a debt-to-equity ratio of 0.94, a current ratio of 1.46 and a quick ratio of 1.17. The company has a 50 day moving average price of $9.86 and a 200 day moving average price of $11.70. The firm has a market cap of $20.46 billion, a PE ratio of 6.77, a PEG ratio of 0.05 and a beta of 1.56.

Institutional Trading of Ecopetrol

Several large investors have recently bought and sold shares of EC. Envestnet Asset Management Inc. lifted its position in Ecopetrol by 32.3% during the first quarter. Envestnet Asset Management Inc. now owns 30,832 shares of the oil and gas company’s stock worth $573,000 after buying an additional 7,529 shares during the period. Advisor Group Holdings Inc. grew its stake in Ecopetrol by 27.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 14,371 shares of the oil and gas company’s stock valued at $268,000 after purchasing an additional 3,099 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Ecopetrol during the 1st quarter valued at approximately $1,759,000. Fisher Asset Management LLC grew its stake in Ecopetrol by 71.9% during the 1st quarter. Fisher Asset Management LLC now owns 1,578,099 shares of the oil and gas company’s stock valued at $29,353,000 after purchasing an additional 660,298 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Ecopetrol in the 1st quarter worth approximately $818,000. Institutional investors and hedge funds own 1.44% of the company’s stock.

About Ecopetrol

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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.

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