Shares of Ecopetrol S.A. (NYSE:EC – Get Free Report) have earned an average recommendation of “Reduce” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.14.
EC has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Ecopetrol from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Citigroup lowered Ecopetrol from a “buy” rating to a “neutral” rating and upped their target price for the company from $14.00 to $18.00 in a report on Wednesday, June 3rd. Zacks Research downgraded Ecopetrol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings raised shares of Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, Wall Street Zen cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th.
Check Out Our Latest Research Report on Ecopetrol
Ecopetrol Stock Down 0.8%
Ecopetrol (NYSE:EC – Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share for the quarter. Ecopetrol had a net margin of 8.84% and a return on equity of 12.38%. On average, equities analysts anticipate that Ecopetrol will post 2.02 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. ORG Partners LLC increased its stake in shares of Ecopetrol by 301.3% during the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,928 shares in the last quarter. Smartleaf Asset Management LLC purchased a new stake in Ecopetrol in the 2nd quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its stake in Ecopetrol by 221.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 2,685 shares in the last quarter. Ramsey Quantitative Systems acquired a new stake in Ecopetrol during the 2nd quarter valued at $58,000. Finally, Advisory Services Network LLC acquired a new stake in Ecopetrol during the 3rd quarter valued at $40,000.
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.
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