Ecopetrol (NYSE:EC – Get Free Report) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Briefing.com reports.
A number of other equities research analysts have also weighed in on the stock. StockNews.com began coverage on shares of Ecopetrol in a report on Thursday, August 17th. They set a “hold” rating for the company. Bank of America began coverage on shares of Ecopetrol in a research note on Wednesday, August 23rd. They set a “neutral” rating and a $11.50 price target for the company. Finally, The Goldman Sachs Group increased their price objective on Ecopetrol from $12.50 to $13.90 and gave the stock a “neutral” rating in a research note on Friday, August 18th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, Ecopetrol currently has an average rating of “Hold” and a consensus price target of $12.60.
Ecopetrol Trading Up 2.7 %
Shares of NYSE EC opened at $12.32 on Wednesday. Ecopetrol has a fifty-two week low of $8.59 and a fifty-two week high of $12.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.00 and a current ratio of 1.14. The company has a market cap of $25.33 billion, a price-to-earnings ratio of 4.43 and a beta of 1.46. The business’s 50 day moving average price is $11.28 and its 200-day moving average price is $10.60.
Ecopetrol (NYSE:EC – Get Free Report) last released its earnings results on Tuesday, August 8th. The oil and gas company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.08). The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Ecopetrol had a return on equity of 10.34% and a net margin of 16.74%. On average, sell-side analysts expect that Ecopetrol will post 2.41 earnings per share for the current year.
Hedge Funds Weigh In On Ecopetrol
Several institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC bought a new stake in Ecopetrol during the 1st quarter valued at $25,000. Acadian Asset Management LLC purchased a new stake in shares of Ecopetrol during the 2nd quarter worth $34,000. Psagot Value Holdings Ltd. Israel bought a new stake in Ecopetrol during the first quarter valued at about $36,000. Penserra Capital Management LLC purchased a new position in Ecopetrol in the first quarter valued at about $47,000. Finally, McIlrath & Eck LLC bought a new position in Ecopetrol in the first quarter worth about $53,000. 1.29% of the stock is owned by hedge funds and other institutional investors.
About Ecopetrol
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.