Ecopetrol S.A. (NYSE:EC – Get Free Report)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $18.20 and last traded at $18.30, with a volume of 401481 shares traded. The stock had previously closed at $17.74.
Key Ecopetrol News
Here are the key news stories impacting Ecopetrol this week:
- Neutral Sentiment: Shareholders approved a government-backed overhaul of Ecopetrol’s board at an extraordinary meeting on September 15. The changes may improve alignment with the new administration but also increase concerns about political influence over the company’s strategy and capital allocation. Ecopetrol approves government-backed board overhaul
- Neutral Sentiment: The company formalized resolutions from the extraordinary shareholders’ meeting, including updates to its board composition. The completion of the process removes some immediate procedural uncertainty, although investors will likely focus on the new board’s independence and policy direction. Resolutions Adopted by the Extraordinary Shareholders’ Meeting
- Negative Sentiment: Acting CEO Juan Carlos Hurtado retired or resigned and was replaced by Alfonso Camilo Barco Muñoz. The unplanned-looking transition raises questions about leadership continuity and the timing of a permanent CEO appointment. Ecopetrol Appoints Alfonso Camilo Barco Munoz as Acting CEO
- Negative Sentiment: Ecopetrol also reported additional senior-management changes, including an interim commercial and marketing vice president. Multiple executive changes in a short period can weigh on investor confidence and create uncertainty around operating priorities. Ecopetrol Reports Changes in Senior Management
- Negative Sentiment: Market coverage indicated that EC fell more sharply than the general market, suggesting investors are treating the governance and leadership turnover as company-specific risks rather than simply reflecting broader market weakness. Ecopetrol Suffers a Larger Drop Than the General Market
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Ecopetrol from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. 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. Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. Citigroup lowered Ecopetrol from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $18.00 in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ecopetrol in a report on Wednesday, August 26th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.54.
Ecopetrol Price Performance
The stock has a market capitalization of $35.87 billion, a PE ratio of 9.23, a P/E/G ratio of 1.35 and a beta of 0.44. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.55 and a quick ratio of 1.30. The stock’s fifty day moving average is $16.87 and its 200-day moving average is $15.23.
Ecopetrol (NYSE:EC – Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The oil and gas company reported $0.86 earnings per share for the quarter. Ecopetrol had a net margin of 11.46% and a return on equity of 18.16%. The company had revenue of $11.72 billion during the quarter. As a group, equities analysts predict that Ecopetrol S.A. will post 1.85 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ecopetrol
Large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Ecopetrol in the first quarter valued at approximately $6,542,000. Renaissance Technologies LLC purchased a new position in Ecopetrol during the first quarter valued at $3,583,000. Wealth High Governance Capital Ltda acquired a new stake in shares of Ecopetrol in the first quarter valued at about $2,417,000. Wealth High Governance Asset Management Ltda. acquired a new stake in shares of Ecopetrol in the first quarter valued at about $2,057,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Ecopetrol during the first quarter worth about $1,948,000.
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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