Ecopetrol (NYSE:EC) Upgraded by JPMorgan Chase & Co. to "Neutral" Rating

Ecopetrol (NYSE:EC - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $9.50 target price on the oil and gas company's stock, up from their prior target price of $7.50. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 7.36% from the stock's current price.

Separately, StockNews.com lowered Ecopetrol from a "buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Ecopetrol currently has a consensus rating of "Hold" and a consensus price target of $9.17.

Ecopetrol Trading Up 0.3 %

Shares of NYSE EC traded up $0.04 during midday trading on Thursday, reaching $10.26. The company had a trading volume of 1,596,581 shares, compared to its average volume of 2,814,962. The firm's fifty day moving average price is $8.57 and its 200-day moving average price is $8.75. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00. Ecopetrol has a one year low of $7.21 and a one year high of $12.90. The stock has a market cap of $21.08 billion, a PE ratio of 4.91 and a beta of 1.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in Ecopetrol by 317.5% in the fourth quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company's stock worth $38,000 after buying an additional 3,638 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in Ecopetrol in the 4th quarter valued at approximately $44,000. Blue Trust Inc. boosted its stake in Ecopetrol by 135.5% during the 3rd quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company's stock valued at $57,000 after purchasing an additional 3,655 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Ecopetrol in the 4th quarter worth $86,000. Finally, Signaturefd LLC raised its stake in shares of Ecopetrol by 13.1% in 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 last quarter.

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.