Ecopetrol (NYSE:EC) Reaches New 1-Year Low - Here's Why

Ecopetrol S.A. (NYSE:EC - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.59 and last traded at $7.61, with a volume of 65610 shares traded. The stock had previously closed at $7.61.

Analysts Set New Price Targets

EC has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Ecopetrol from $11.00 to $9.50 and set a "neutral" rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on shares of Ecopetrol from $8.50 to $7.50 and set an "underweight" rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Ecopetrol from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. Based on data from MarketBeat, Ecopetrol presently has an average rating of "Reduce" and a consensus target price of $8.50.

Ecopetrol Price Performance

The business's 50-day moving average price is $8.77 and its 200 day moving average price is $10.41. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $15.52 billion, a P/E ratio of 3.33 and a beta of 1.21.

Ecopetrol (NYSE:EC - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The oil and gas company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.15). Ecopetrol had a net margin of 13.92% and a return on equity of 9.42%. The firm had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $8.49 billion. Analysts anticipate that Ecopetrol S.A. will post 2 EPS for the current fiscal year.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds have recently bought and sold shares of EC. Straight Path Wealth Management raised its stake in shares of Ecopetrol by 7.4% during the second quarter. Straight Path Wealth Management now owns 14,600 shares of the oil and gas company's stock worth $163,000 after acquiring an additional 1,000 shares in the last quarter. Creative Planning raised its stake in shares of Ecopetrol by 2.7% during the second quarter. Creative Planning now owns 46,864 shares of the oil and gas company's stock worth $524,000 after acquiring an additional 1,219 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Ecopetrol by 258.6% during the second quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company's stock worth $32,000 after acquiring an additional 1,945 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Ecopetrol by 58.2% during the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company's stock worth $72,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Ecopetrol during the second quarter worth approximately $27,000.

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.