Ecopetrol (NYSE:EC) Hits New 1-Year High – Still a Buy?

Ecopetrol S.A. (NYSE:EC)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $11.44 and last traded at $11.3350, with a volume of 857087 shares trading hands. The stock had previously closed at $11.16.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $8.70 price objective on shares of Ecopetrol in a research report on Monday, December 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Ecopetrol in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ecopetrol has a consensus rating of “Hold” and a consensus price target of $10.73.

Ecopetrol Stock Up 2.1%

The stock’s fifty day moving average is $9.96 and its two-hundred day moving average is $9.34. The company has a current ratio of 1.53, a quick ratio of 1.26 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $22.35 billion, a PE ratio of 9.57 and a beta of 0.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC purchased a new stake in shares of Ecopetrol during the 2nd quarter worth approximately $25,000. Advisory Services Network LLC purchased a new position in Ecopetrol in the third quarter valued at approximately $40,000. Straight Path Wealth Management bought a new position in Ecopetrol during the third quarter valued at $92,000. Envestnet Asset Management Inc. purchased a new stake in Ecopetrol in the second quarter worth $93,000. Finally, Metis Global Partners LLC bought a new stake in shares of Ecopetrol in the second quarter valued at $104,000.

Ecopetrol Company Profile

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.