Shares of Ecopetrol S.A. (NYSE:EC – Get Free Report) have received an average rating of “Reduce” from the eight research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $13.54.
A number of analysts have recently weighed in on EC shares. Citigroup cut shares of Ecopetrol from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $18.00 in a research note on Wednesday, June 3rd. Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ecopetrol in a report on Wednesday, August 26th. JPMorgan Chase & Co. boosted their target price on shares of Ecopetrol from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, June 1st. Finally, UBS Group upped their price target on shares of Ecopetrol from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 14th.
Check Out Our Latest Stock Report on EC
Ecopetrol Stock Performance
Ecopetrol (NYSE:EC – Get Free Report) last posted its earnings results on Wednesday, July 1st. The oil and gas company reported $0.86 earnings per share for the quarter. The firm had revenue of $11.72 billion during the quarter. Ecopetrol had a return on equity of 18.16% and a net margin of 11.46%. As a group, equities research analysts expect that Ecopetrol will post 1.85 earnings per share for the current fiscal year.
Institutional Trading of Ecopetrol
Several hedge funds and other institutional investors have recently bought and sold shares of EC. Confluence Investment Management LLC raised its position in shares of Ecopetrol by 15.1% during the second quarter. Confluence Investment Management LLC now owns 15,465 shares of the oil and gas company’s stock valued at $220,000 after buying an additional 2,027 shares during the last quarter. LPL Financial LLC lifted its position in shares of Ecopetrol by 1.7% in the 4th quarter. LPL Financial LLC now owns 119,784 shares of the oil and gas company’s stock worth $1,200,000 after acquiring an additional 2,036 shares during the period. Parallel Advisors LLC grew its holdings in shares of Ecopetrol by 34.8% during the 1st quarter. Parallel Advisors LLC now owns 7,890 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 2,038 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Ecopetrol by 17.9% during the 4th quarter. Ballentine Partners LLC now owns 13,676 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Ecopetrol by 221.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 2,685 shares during the period.
About Ecopetrol
Ecopetrol SA is an integrated energy company based in Colombia and one of the country’s principal producers of oil and natural gas. Its activities include exploration and production of hydrocarbons, crude oil and fuel transportation, refining, petrochemicals, and the distribution and marketing of petroleum products and natural gas.
The company operates through a broad energy infrastructure network that includes pipelines, storage facilities, refineries, ports, and other midstream assets.
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