Ecopetrol (NYSE:EC) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Ecopetrol (NYSE:EC – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the oil and gas company’s stock.

Several other analysts have also recently commented on EC. HSBC cut Ecopetrol from a “buy” rating to a “hold” rating and decreased their target price for the stock from $12.50 to $12.00 in a report on Friday, February 10th. UBS Group cut Ecopetrol from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, February 9th. Finally, The Goldman Sachs Group decreased their price target on Ecopetrol from $12.40 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.00.

Ecopetrol Stock Performance

Shares of NYSE EC opened at $10.01 on Thursday. The business has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $10.29. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $20.58 billion, a price-to-earnings ratio of 2.63 and a beta of 1.41. Ecopetrol has a one year low of $8.59 and a one year high of $19.81.

Hedge Funds Weigh In On Ecopetrol

Several hedge funds have recently added to or reduced their stakes in EC. Penserra Capital Management LLC acquired a new stake in shares of Ecopetrol during the first quarter worth about $47,000. Quadrant Capital Group LLC raised its position in shares of Ecopetrol by 46.6% during the fourth quarter. Quadrant Capital Group LLC now owns 5,834 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 1,855 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of Ecopetrol during the third quarter worth about $89,000. UBS Group AG raised its position in shares of Ecopetrol by 11.1% during the first quarter. UBS Group AG now owns 10,610 shares of the oil and gas company’s stock worth $197,000 after purchasing an additional 1,058 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Ecopetrol in the 2nd quarter valued at approximately $116,000. Institutional investors and hedge funds own 1.30% of the company’s stock.

Ecopetrol Company Profile

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Ecopetrol SA engages in the exploration, development, and production of crude oil and natural gas. It operates through the following segments: Exploration and Production, Transportation and Logistics, and Refining and Petrochemicals. The Exploration and Production segment deals with oil and gas exploration and production activities.