Ecopetrol S.A. (NYSE:EC) was upgraded by equities researchers at J P Morgan Chase & Co from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, October 25th, MarketBeat reports. The brokerage presently has a $9.00 price target on the oil and gas company’s stock. J P Morgan Chase & Co’s price target suggests a potential downside of 25.25% from the company’s current price.
EC has been the subject of several other reports. BidaskClub raised Ecopetrol from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. ValuEngine raised Ecopetrol from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Scotiabank cut Ecopetrol from an “outperform” rating to a “sector perform” rating in a research report on Thursday, June 29th. Finally, Zacks Investment Research cut Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.20.
Shares of Ecopetrol (NYSE EC) opened at $12.04 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $24,752.25, a PE ratio of 27.36, a price-to-earnings-growth ratio of 0.37 and a beta of 1.12. Ecopetrol has a fifty-two week low of $7.65 and a fifty-two week high of $12.30.
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A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Ecopetrol by 16.5% in 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 purchasing an additional 887,100 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of Ecopetrol by 118.5% in 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 purchasing an additional 668,500 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Ecopetrol by 444.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 388,982 shares of the oil and gas company’s stock valued at $3,536,000 after purchasing an additional 317,578 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Ecopetrol by 303.2% in the 3rd quarter. Nationwide Fund Advisors now owns 353,973 shares of the oil and gas company’s stock valued at $3,359,000 after purchasing an additional 266,173 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Ecopetrol by 67.3% in the 1st quarter. Morgan Stanley now owns 588,394 shares of the oil and gas company’s stock valued at $5,482,000 after purchasing an additional 236,599 shares in the last quarter. Hedge funds and other institutional investors own 2.17% of the company’s stock.
Ecopetrol Company Profile
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.
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