Ecopetrol (NYSE:EC) Upgraded at Citigroup

Citigroup upgraded shares of Ecopetrol (NYSE:ECFree Report) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat.com reports. The firm currently has $14.00 price target on the oil and gas company’s stock, up from their prior price target of $9.00.

A number of other equities analysts have also weighed in on the company. StockNews.com lowered Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. upgraded shares of Ecopetrol from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $7.50 to $9.50 in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Ecopetrol has a consensus rating of “Hold” and a consensus price target of $10.38.

Check Out Our Latest Analysis on Ecopetrol

Ecopetrol Trading Up 0.4 %

Shares of EC opened at $10.96 on Tuesday. The business’s 50-day moving average price is $8.76 and its 200-day moving average price is $8.79. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00. The stock has a market cap of $22.52 billion, a PE ratio of 5.24 and a beta of 1.20. Ecopetrol has a twelve month low of $7.21 and a twelve month high of $12.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Ecopetrol by 81.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock valued at $3,796,000 after acquiring an additional 190,293 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in shares of Ecopetrol in the 4th quarter worth approximately $790,000. Strategic Financial Concepts LLC bought a new position in Ecopetrol during the 4th quarter valued at approximately $179,000. BNP Paribas Financial Markets boosted its stake in Ecopetrol by 61.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 56,783 shares of the oil and gas company’s stock worth $507,000 after purchasing an additional 21,703 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Ecopetrol in the 3rd quarter worth $1,061,000.

Ecopetrol Company Profile

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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.

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