Ecopetrol (NYSE:EC) Reaches New 1-Year High – Here’s What Happened

Shares of Ecopetrol S.A. (NYSE:EC) reached a new 52-week high on Tuesday . The company traded as high as $13.12 and last traded at $13.2150, with a volume of 734692 shares. The stock had previously closed at $12.68.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group reissued a “neutral” rating and issued a $8.70 price objective on shares of Ecopetrol in a report on Monday, December 1st. Finally, Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Ecopetrol currently has an average rating of “Hold” and a consensus target price of $10.73.

Ecopetrol Stock Up 0.1%

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.26. The firm has a market capitalization of $26.26 billion, a P/E ratio of 10.73 and a beta of 0.65. The firm’s fifty day moving average price is $10.50 and its 200-day moving average price is $9.61.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fundamenta Capital S.A. bought a new position in shares of Ecopetrol during the 4th quarter valued at about $20,135,000. Candriam S.C.A. acquired a new stake in Ecopetrol during the second quarter valued at approximately $7,443,000. Allianz Asset Management GmbH bought a new stake in Ecopetrol during the second quarter worth approximately $3,997,000. Oaktree Capital Management LP boosted its holdings in Ecopetrol by 12.3% during the second quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock worth $31,416,000 after buying an additional 387,700 shares in the last quarter. Finally, Jump Financial LLC grew its position in Ecopetrol by 833.7% in the third quarter. Jump Financial LLC now owns 341,880 shares of the oil and gas company’s stock worth $3,149,000 after buying an additional 305,266 shares during the last quarter.

About Ecopetrol

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.