Ecopetrol (EC) Hits New 1-Year High at $17.84

Ecopetrol SA (NYSE:EC) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.84 and last traded at $17.44, with a volume of 1627900 shares traded. The stock had previously closed at $16.87.

EC has been the topic of a number of recent analyst reports. downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Citigroup initiated coverage on Ecopetrol in a research note on Wednesday, December 6th. They issued a “neutral” rating and a $12.00 price objective on the stock. ValuEngine downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. JPMorgan Chase & Co. raised Ecopetrol from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research note on Wednesday, October 25th. Finally, Zacks Investment Research raised Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, October 10th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Ecopetrol currently has an average rating of “Hold” and a consensus target price of $10.20.

The firm has a market capitalization of $35,500.00, a P/E ratio of 30.18, a PEG ratio of 0.31 and a beta of 1.13. The company has a current ratio of 1.37, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82.

Large investors have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Ecopetrol by 7.8% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,437,088 shares of the oil and gas company’s stock worth $80,068,000 after buying an additional 608,262 shares during the period. Renaissance Technologies LLC raised its stake in Ecopetrol by 16.5% during the 2nd quarter. Renaissance Technologies LLC now owns 6,262,700 shares of the oil and gas company’s stock worth $56,928,000 after buying an additional 887,100 shares during the period. Vanguard Group Inc. raised its stake in Ecopetrol by 5.6% during the 2nd 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 period. APG Asset Management N.V. raised its stake in Ecopetrol by 118.5% during the 3rd quarter. APG Asset Management N.V. now owns 1,232,763 shares of the oil and gas company’s stock worth $11,699,000 after buying an additional 668,500 shares during the period. Finally, Legal & General Group Plc raised its stake in Ecopetrol by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 1,102,311 shares of the oil and gas company’s stock worth $10,466,000 after buying an additional 62,400 shares during the period. 2.05% of the stock is currently owned by institutional investors.

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Ecopetrol Company Profile

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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