Ecopetrol’s (EC) “Sell (D)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings restated their sell (d) rating on shares of Ecopetrol (NYSE:EC) in a research report sent to investors on Thursday,Weiss Ratings reports.

Separately, Zacks Research downgraded Ecopetrol from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $11.75.

Ecopetrol Trading Down 0.3%

Shares of NYSE EC opened at $9.28 on Thursday. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $11.05. The stock has a 50 day moving average of $9.15 and a 200-day moving average of $8.92. The company has a market capitalization of $19.07 billion, a P/E ratio of 7.08 and a beta of 0.83.

Hedge Funds Weigh In On Ecopetrol

Hedge funds have recently added to or reduced their stakes in the stock. Candriam S.C.A. acquired a new position in Ecopetrol in the 2nd quarter valued at $7,443,000. Allianz Asset Management GmbH acquired a new position in Ecopetrol in the 2nd quarter valued at $3,997,000. Oaktree Capital Management LP raised its holdings in shares of Ecopetrol by 12.3% during the 2nd quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock worth $31,416,000 after buying an additional 387,700 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ecopetrol by 46.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,017,544 shares of the oil and gas company’s stock worth $10,623,000 after buying an additional 321,132 shares in the last quarter. Finally, Truffle Hound Capital LLC acquired a new position in shares of Ecopetrol during the 1st quarter worth $3,132,000.

About Ecopetrol

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.