Ecopetrol (NYSE:EC) Reaches New 52-Week Low - Time to Sell?

Ecopetrol S.A. (NYSE:EC - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.86 and last traded at $7.89, with a volume of 276995 shares trading hands. The stock had previously closed at $8.10.

Wall Street Analyst Weigh In

A number of research firms have commented on EC. JPMorgan Chase & Co. downgraded shares of Ecopetrol from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $12.00 to $8.50 in a report on Wednesday, September 25th. StockNews.com cut Ecopetrol from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group lowered their price objective on Ecopetrol from $11.00 to $9.50 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $8.83.

Ecopetrol Trading Down 0.6 %

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.21. The firm has a market cap of $16.55 billion, a PE ratio of 3.45 and a beta of 1.20. The company's 50 day moving average price is $9.11 and its 200 day moving average price is $10.60.

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

Hedge Funds Weigh In On Ecopetrol

Institutional investors and hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC increased its holdings in Ecopetrol by 30.9% in the first quarter. SeaCrest Wealth Management LLC now owns 56,252 shares of the oil and gas company's stock valued at $666,000 after buying an additional 13,293 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Ecopetrol by 18.6% during the 1st quarter. Private Advisor Group LLC now owns 31,872 shares of the oil and gas company's stock worth $377,000 after acquiring an additional 4,996 shares in the last quarter. Quantbot Technologies LP lifted its stake in Ecopetrol by 66.6% during the first quarter. Quantbot Technologies LP now owns 74,194 shares of the oil and gas company's stock worth $878,000 after purchasing an additional 29,651 shares during the last quarter. Stokes Family Office LLC boosted its holdings in Ecopetrol by 10.6% in the first quarter. Stokes Family Office LLC now owns 104,714 shares of the oil and gas company's stock valued at $1,240,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Capital Wealth Planning LLC increased its stake in Ecopetrol by 74.2% in the first quarter. Capital Wealth Planning LLC now owns 208,230 shares of the oil and gas company's stock valued at $2,465,000 after purchasing an additional 88,710 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.