Ecopetrol (NYSE:EC) Hits New 12-Month High – Should You Buy?

Shares of Ecopetrol S.A. (NYSE:EC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.80 and last traded at $17.64, with a volume of 2176 shares changing hands. The stock had previously closed at $17.67.

Analyst Ratings Changes

Several analysts have weighed in on EC shares. JPMorgan Chase & Co. boosted their target price on shares of Ecopetrol from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. Zacks Research lowered shares of Ecopetrol from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group increased their price objective on shares of Ecopetrol from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Weiss Ratings raised shares of Ecopetrol from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Six analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $13.54.

Ecopetrol Price Performance

The company has a market capitalization of $36.48 billion, a P/E ratio of 13.85, a PEG ratio of 1.27 and a beta of 0.44. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 0.93. The business has a 50 day simple moving average of $15.97 and a 200-day simple moving average of $14.44.

Ecopetrol (NYSE:EC) last released its quarterly earnings data on Wednesday, July 1st. The oil and gas company reported $0.86 earnings per share for the quarter. Ecopetrol had a net margin of 8.84% and a return on equity of 12.38%. The business had revenue of $11.72 billion for the quarter. Analysts predict that Ecopetrol S.A. will post 1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EC. Smartleaf Asset Management LLC bought a new position in Ecopetrol in the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC boosted its position in Ecopetrol by 221.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 2,685 shares during the period. Advisory Services Network LLC acquired a new position in Ecopetrol during the 3rd quarter worth $40,000. Ramsey Quantitative Systems bought a new position in shares of Ecopetrol in the second quarter worth $58,000. Finally, Inspire Investing LLC bought a new position in shares of Ecopetrol in the fourth quarter worth $88,000.

About Ecopetrol

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.