Ecopetrol (EC) Rating Lowered to Sell at UBS Group

Ecopetrol (NYSE:EC) was downgraded by UBS Group from a “neutral” rating to a “sell” rating in a research report issued on Thursday, The Fly reports.

EC has been the topic of a number of other reports. JPMorgan Chase & Co. upgraded shares of Ecopetrol from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Wednesday, October 25th. ValuEngine downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Zacks Investment Research downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Citigroup initiated coverage on shares of Ecopetrol in a research note on Wednesday, December 6th. They set a “neutral” rating and a $12.00 price target for the company. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Ecopetrol presently has an average rating of “Hold” and an average target price of $10.20.

Ecopetrol (NYSE:EC) opened at $17.63 on Thursday. Ecopetrol has a 12-month low of $8.44 and a 12-month high of $18.03. The stock has a market cap of $36,480.00, a P/E ratio of 30.93, a PEG ratio of 0.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.37.

Several institutional investors and hedge funds have recently bought and sold shares of EC. Schwab Charles Investment Management Inc. raised its stake in shares of Ecopetrol by 20.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 235,147 shares of the oil and gas company’s stock worth $2,138,000 after buying an additional 39,680 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Ecopetrol by 48.6% during the second quarter. Ameriprise Financial Inc. now owns 24,272 shares of the oil and gas company’s stock worth $217,000 after buying an additional 7,940 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Ecopetrol by 2.1% during the second quarter. Lazard Asset Management LLC now owns 882,515 shares of the oil and gas company’s stock worth $8,021,000 after buying an additional 17,891 shares during the last quarter. Northern Trust Corp raised its stake in shares of Ecopetrol by 12.0% during the second quarter. Northern Trust Corp now owns 222,563 shares of the oil and gas company’s stock worth $2,023,000 after buying an additional 23,875 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Ecopetrol by 5.6% during the second quarter. Vanguard Group Inc. now owns 3,319,861 shares of the oil and gas company’s stock worth $30,178,000 after buying an additional 175,934 shares during the last quarter. 2.05% of the stock is owned by institutional investors and hedge funds.

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About Ecopetrol

Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.

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