Ecopetrol S.A. (NYSE:EC - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,359,130 shares were traded during trading, a decline of 35% from the previous session's volume of 2,099,693 shares.The stock last traded at $8.10 and had previously closed at $7.92.
Analysts Set New Price Targets
Several analysts have recently commented on EC shares. JPMorgan Chase & Co. decreased their price objective on Ecopetrol from $8.50 to $7.50 and set an "underweight" rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on Ecopetrol from $11.00 to $9.50 and set a "neutral" rating for the company in a report on Tuesday, September 24th. Finally, StockNews.com upgraded Ecopetrol from a "hold" rating to a "buy" rating in a report on Monday. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $8.50.
Check Out Our Latest Stock Analysis on EC
Ecopetrol Stock Performance
The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average of $8.42 and a 200-day moving average of $10.16. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 3.60 and a beta of 1.21.
Hedge Funds Weigh In On Ecopetrol
Several hedge funds have recently made changes to their positions in EC. Ridgewood Investments LLC acquired a new stake in Ecopetrol during the 2nd quarter worth about $27,000. Blue Trust Inc. grew its position in Ecopetrol by 258.6% during the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 1,945 shares during the period. GAMMA Investing LLC grew its position in Ecopetrol by 58.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 2,355 shares during the period. MQS Management LLC acquired a new stake in shares of Ecopetrol during the 1st quarter valued at about $125,000. Finally, Cetera Advisors LLC acquired a new stake in shares of Ecopetrol during the 1st quarter valued at about $141,000.
About Ecopetrol
(
Get Free Report)
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.
Further Reading
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