Ecopetrol (EC) Rating Lowered to Sell at Citigroup

Citigroup cut shares of Ecopetrol (NYSE:EC) from a neutral rating to a sell rating in a report published on Monday morning, MarketBeat.com reports.

A number of other brokerages also recently commented on EC. TheStreet upgraded Ecopetrol from a c+ rating to a b- rating in a research note on Wednesday, January 24th. Zacks Investment Research upgraded Ecopetrol from a hold rating to a buy rating and set a $22.00 target price on the stock in a research note on Tuesday, January 30th. HSBC downgraded Ecopetrol from a hold rating to a reduce rating in a research note on Tuesday, January 23rd. downgraded Ecopetrol from a buy rating to a hold rating in a research note on Tuesday, November 14th. Finally, ValuEngine cut Ecopetrol from a buy rating to a hold rating in a report on Tuesday, December 26th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $12.40.

Shares of Ecopetrol (EC) opened at $16.96 on Monday. Ecopetrol has a one year low of $8.44 and a one year high of $20.55. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $35,709.86, a PE ratio of 38.55, a PEG ratio of 0.28 and a beta of 1.36.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EC. Schwab Charles Investment Management Inc. raised its holdings in Ecopetrol by 20.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 235,147 shares of the oil and gas company’s stock worth $2,138,000 after purchasing an additional 39,680 shares during the period. Ameriprise Financial Inc. raised its holdings in Ecopetrol by 48.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 24,272 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 7,940 shares during the period. Northern Trust Corp raised its holdings in Ecopetrol by 12.0% in the 2nd quarter. Northern Trust Corp now owns 222,563 shares of the oil and gas company’s stock worth $2,023,000 after purchasing an additional 23,875 shares during the period. Vanguard Group Inc. raised its holdings in Ecopetrol by 5.6% in 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 purchasing an additional 175,934 shares during the period. Finally, Virtu KCG Holdings LLC raised its holdings in Ecopetrol by 19.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 16,579 shares of the oil and gas company’s stock worth $151,000 after purchasing an additional 2,743 shares during the period. 2.24% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Ecopetrol (NYSE:EC)

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