Ecopetrol S.A. (NYSE:EC) Stock Has Average Price Target of $13.54 According to Brokerages

Ecopetrol S.A. (NYSE:EC) has earned a consensus recommendation of “Reduce” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.54.

Several research firms recently weighed in on EC. Weiss Ratings raised Ecopetrol from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 24th. Zacks Research raised shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. UBS Group lifted 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, August 14th. Finally, Wall Street Zen upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th.

Hedge Funds Weigh In On Ecopetrol

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ramsey Quantitative Systems bought a new stake in Ecopetrol during the second quarter worth about $58,000. Parallel Advisors LLC boosted its holdings in shares of Ecopetrol by 34.8% in the 1st quarter. Parallel Advisors LLC now owns 7,890 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 2,038 shares in the last quarter. LGT Fund Management Co Ltd. acquired a new position in shares of Ecopetrol during the 1st quarter worth $150,000. FNY Investment Advisers LLC acquired a new position in shares of Ecopetrol during the 2nd quarter worth $168,000. Finally, Brady Martz Wealth Solutions LLC bought a new stake in shares of Ecopetrol during the 1st quarter worth $192,000.

Ecopetrol Price Performance

Shares of EC opened at $16.59 on Wednesday. The firm has a market capitalization of $34.10 billion, a PE ratio of 8.78, a PEG ratio of 1.07 and a beta of 0.46. The company’s 50-day moving average is $17.04 and its 200-day moving average is $15.55. Ecopetrol has a fifty-two week low of $8.57 and a fifty-two week high of $18.38.

Ecopetrol (NYSE:EC) last released its quarterly earnings results on Wednesday, July 1st. The oil and gas company reported $0.86 earnings per share for the quarter. Ecopetrol had a net margin of 11.46% and a return on equity of 18.16%. The firm had revenue of $11.72 billion for the quarter. Analysts predict that Ecopetrol will post 2.08 earnings per share for the current fiscal year.

About Ecopetrol

Ecopetrol SA is an integrated energy company headquartered in Bogotá, Colombia, and one of the country’s principal petroleum and natural gas producers. Its operations include the exploration, development and production of crude oil and natural gas, as well as the gathering, processing and commercialization of hydrocarbons.

The company also operates through businesses involved in crude oil and refined-product transportation, refining, petrochemicals and fuel distribution. Its refining activities include the Barrancabermeja refinery and the Cartagena refinery, while its transportation operations are conducted primarily through subsidiaries and affiliated infrastructure businesses.

Founded in 1951 as Empresa Colombiana de Petróleos, Ecopetrol has expanded beyond Colombia through international exploration and production activities and investments in energy infrastructure.