Analysts Set Ecopetrol SA (NYSE:EC) Target Price at $21.06

Shares of Ecopetrol SA (NYSE:EC) have received an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.06.

Several analysts have recently commented on the company. Zacks Investment Research raised Ecopetrol from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Tuesday, December 31st. Goldman Sachs Group assumed coverage on Ecopetrol in a report on Tuesday, December 17th. They issued a “sell” rating and a $18.00 price target for the company. Citigroup cut Ecopetrol from a “buy” rating to a “neutral” rating and set a $19.80 price target for the company. in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised Ecopetrol from a “neutral” rating to an “overweight” rating and raised their price target for the company from $20.00 to $24.00 in a report on Thursday, December 19th.

Shares of EC traded down $0.28 during mid-day trading on Friday, hitting $19.53. The company’s stock had a trading volume of 700,127 shares, compared to its average volume of 614,365. The company has a current ratio of 1.36, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $19.77 and a 200 day simple moving average of $18.19. The firm has a market capitalization of $40.73 billion, a P/E ratio of 10.85 and a beta of 1.67. Ecopetrol has a 1-year low of $15.21 and a 1-year high of $23.24.

Hedge funds have recently modified their holdings of the stock. Manning & Napier Group LLC raised its holdings in Ecopetrol by 3.3% during the fourth quarter. Manning & Napier Group LLC now owns 175,702 shares of the oil and gas company’s stock worth $3,507,000 after purchasing an additional 5,534 shares during the last quarter. Wetherby Asset Management Inc. raised its holdings in Ecopetrol by 3.9% during the third quarter. Wetherby Asset Management Inc. now owns 24,025 shares of the oil and gas company’s stock worth $409,000 after purchasing an additional 901 shares during the last quarter. State Street Corp raised its holdings in Ecopetrol by 15.0% during the third quarter. State Street Corp now owns 1,870,498 shares of the oil and gas company’s stock worth $31,855,000 after purchasing an additional 243,291 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Ecopetrol by 5.9% during the third quarter. Envestnet Asset Management Inc. now owns 37,130 shares of the oil and gas company’s stock worth $632,000 after purchasing an additional 2,073 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Ecopetrol by 6.7% during the third quarter. Stifel Financial Corp now owns 24,981 shares of the oil and gas company’s stock worth $420,000 after purchasing an additional 1,576 shares during the last quarter. 2.57% of the stock is owned by hedge funds and other institutional investors.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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Analyst Recommendations for Ecopetrol (NYSE:EC)

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