Ecopetrol (NYSE:EC) Given a $19.80 Price Target at Citigroup

Citigroup set a $19.80 price objective on Ecopetrol (NYSE:EC) in a research report sent to investors on Monday morning, TipRanks reports. The firm currently has a buy rating on the oil and gas company’s stock.

Separately, HSBC upgraded shares of Ecopetrol from a hold rating to a buy rating and lowered their target price for the company from $21.00 to $20.50 in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Ecopetrol currently has an average rating of Hold and an average price target of $22.33.

EC traded down $0.26 during midday trading on Monday, hitting $16.52. 575,759 shares of the company traded hands, compared to its average volume of 758,465. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $34.50 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.51 and a beta of 1.57. The company’s 50-day moving average is $16.56 and its 200 day moving average is $18.35. Ecopetrol has a 52 week low of $15.21 and a 52 week high of $27.68.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Ecopetrol by 160.1% during the 2nd quarter. BlackRock Inc. now owns 3,484,932 shares of the oil and gas company’s stock valued at $63,741,000 after purchasing an additional 2,145,328 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in Ecopetrol by 3.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,268,249 shares of the oil and gas company’s stock worth $23,196,000 after acquiring an additional 45,231 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Ecopetrol by 507.4% in the 2nd quarter. Mackenzie Financial Corp now owns 527,794 shares of the oil and gas company’s stock worth $9,653,000 after acquiring an additional 440,894 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Ecopetrol in the 2nd quarter worth approximately $7,697,000. Finally, Marshall Wace North America L.P. increased its holdings in Ecopetrol by 5,251.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 313,148 shares of the oil and gas company’s stock worth $5,727,000 after acquiring an additional 307,296 shares in the last quarter. 2.63% of the stock is owned by hedge funds and other institutional investors.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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Analyst Recommendations for Ecopetrol (NYSE:EC)

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