Ecopetrol SA (EC) Receives Average Recommendation of “Hold” from Brokerages

Ecopetrol SA (NYSE:EC) has received an average recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.50.

A number of research analysts recently commented on EC shares. Citigroup upgraded Ecopetrol from a “sell” rating to a “neutral” rating in a research report on Thursday, August 2nd. ValuEngine cut Ecopetrol from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research cut Ecopetrol from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Raymond James upgraded Ecopetrol from an “underperform” rating to a “market perform” rating in a research report on Monday, October 22nd.

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in Ecopetrol by 201.5% in the third quarter. Tower Research Capital LLC TRC now owns 5,696 shares of the oil and gas company’s stock valued at $153,000 after acquiring an additional 3,807 shares during the last quarter. Checchi Capital Advisers LLC acquired a new stake in shares of Ecopetrol during the third quarter valued at about $218,000. NewSquare Capital LLC acquired a new stake in shares of Ecopetrol during the second quarter valued at about $177,000. BNP Paribas Arbitrage SA boosted its stake in shares of Ecopetrol by 770.6% during the second quarter. BNP Paribas Arbitrage SA now owns 8,619 shares of the oil and gas company’s stock valued at $177,000 after purchasing an additional 7,629 shares in the last quarter. Finally, Atlas Capital Advisors LLC boosted its stake in shares of Ecopetrol by 1,097.1% during the second quarter. Atlas Capital Advisors LLC now owns 9,014 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 8,261 shares in the last quarter. Hedge funds and other institutional investors own 2.95% of the company’s stock.

Shares of NYSE EC traded down $0.01 during mid-day trading on Monday, reaching $20.62. The company had a trading volume of 784,453 shares, compared to its average volume of 1,578,310. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.33. Ecopetrol has a one year low of $11.27 and a one year high of $27.96. The stock has a market capitalization of $41.96 billion, a P/E ratio of 18.92, a PEG ratio of 0.71 and a beta of 1.34.

Ecopetrol (NYSE:EC) last issued its quarterly earnings results on Tuesday, August 14th. The oil and gas company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Ecopetrol had a return on equity of 13.27% and a net margin of 19.13%. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.99 billion. Equities research analysts forecast that Ecopetrol will post 1.97 earnings per share for the current year.

About Ecopetrol

Ecopetrol SA operates as an integrated oil and gas company. It operates through three segments: Exploration and Production; Refining, Petrochemical, and Biofuels; and Transport and Logistics. The company produces crude oil and gas; and engages in the extraction, collection, treatment, storage and pumping or compression of hydrocarbons.

Featured Article: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Ecopetrol (NYSE:EC)

Receive News & Ratings for Ecopetrol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply