Ecopetrol (NYSE:EC) Downgraded to Hold Rating by StockNews.com

Ecopetrol (NYSE:EC - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts also recently commented on EC. Citigroup upgraded Ecopetrol from a "neutral" rating to a "buy" rating and increased their price objective for the company from $9.00 to $14.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upgraded Ecopetrol from an "underweight" rating to a "neutral" rating and increased their price target for the company from $7.50 to $9.50 in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.00.

Ecopetrol Price Performance

Shares of NYSE:EC traded up $0.06 during trading hours on Monday, hitting $10.17. 1,944,659 shares of the company's stock traded hands, compared to its average volume of 2,283,889. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.68. The company's fifty day simple moving average is $9.56 and its two-hundred day simple moving average is $8.75. Ecopetrol has a 52 week low of $7.21 and a 52 week high of $12.90. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 4.86 and a beta of 1.22.

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Institutional Trading of Ecopetrol

Several hedge funds and other institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC raised its position in Ecopetrol by 317.5% during the fourth quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company's stock valued at $38,000 after buying an additional 3,638 shares during the period. Platinum Investment Management Ltd. acquired a new position in shares of Ecopetrol in the 4th quarter valued at about $44,000. Blue Trust Inc. increased its holdings in shares of Ecopetrol by 33.5% in the 4th quarter. Blue Trust Inc. now owns 8,480 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 2,128 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Ecopetrol in the fourth quarter worth approximately $86,000. Finally, Signaturefd LLC boosted its holdings in shares of Ecopetrol by 13.1% during the fourth quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company's stock worth $87,000 after purchasing an additional 1,271 shares during the period.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.