Ecopetrol S.A. (EC) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Ecopetrol S.A. (NYSE:EC) from a hold rating to a buy rating in a research report report published on Tuesday morning. Zacks Investment Research currently has $11.00 price objective on the oil and gas company’s stock.

According to Zacks, “ECOPETROL S.A. is a Colombia-based petroleum company. The Company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia, as well as in other areas in Colombia and northern Peru. The Company’s operation includes the extraction, collection, treatment, storage and pumping or compression of hydrocarbons. Ecopetrol has four management divisions to handle the operation of 163 production fields. Ecopetrol’s production is concentrated in the upper, middle and lower Magdalena, the Eastern Plans and the Caribbean, and the provinces of Putumayo, Cesar and Norte de Santander. “

A number of other equities analysts also recently issued reports on the company. BidaskClub raised Ecopetrol from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Scotiabank downgraded Ecopetrol from an outperform rating to a sector perform rating in a research report on Thursday, June 29th. Finally, ValuEngine raised Ecopetrol from a hold rating to a buy rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Ecopetrol presently has an average rating of Hold and a consensus price target of $10.50.

Shares of Ecopetrol (EC) opened at 9.50 on Tuesday. Ecopetrol has a 52 week low of $7.65 and a 52 week high of $10.36. The firm’s 50-day moving average price is $9.39 and its 200 day moving average price is $9.31. The stock has a market capitalization of $19.53 billion, a P/E ratio of 16.38 and a beta of 1.04.

ILLEGAL ACTIVITY NOTICE: “Ecopetrol S.A. (EC) Upgraded by Zacks Investment Research to Buy” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/11/ecopetrol-s-a-ec-upgraded-by-zacks-investment-research-to-buy.html.

Institutional investors and hedge funds have recently made changes to their positions in the company. Point View Wealth Management Inc. purchased a new stake in shares of Ecopetrol during the second quarter valued at $100,000. Greenleaf Trust purchased a new stake in shares of Ecopetrol during the second quarter valued at $105,000. Conning Inc. purchased a new stake in shares of Ecopetrol during the second quarter valued at $113,000. KCG Holdings Inc. purchased a new stake in shares of Ecopetrol during the first quarter valued at $129,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Ecopetrol by 5.5% during the first quarter. Envestnet Asset Management Inc. now owns 13,951 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 729 shares during the last quarter. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

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,

According to Zacks, “ECOPETROL S.A. is a Colombia-based petroleum company. The Company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia, as well as in other areas in Colombia and northern Peru. The Company’s operation includes the extraction, collection, treatment, storage and pumping or compression of hydrocarbons. Ecopetrol has four management divisions to handle the operation of 163 production fields. Ecopetrol’s production is concentrated in the upper, middle and lower Magdalena, the Eastern Plans and the Caribbean, and the provinces of Putumayo, Cesar and Norte de Santander. “

A number of other equities analysts also recently issued reports on the company. BidaskClub raised Ecopetrol from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Scotiabank downgraded Ecopetrol from an outperform rating to a sector perform rating in a research report on Thursday, June 29th. Finally, ValuEngine raised Ecopetrol from a hold rating to a buy rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Ecopetrol presently has an average rating of Hold and a consensus price target of $10.50.

Shares of Ecopetrol (EC) opened at 9.50 on Tuesday. Ecopetrol has a 52 week low of $7.65 and a 52 week high of $10.36. The firm’s 50-day moving average price is $9.39 and its 200 day moving average price is $9.31. The stock has a market capitalization of $19.53 billion, a P/E ratio of 16.38 and a beta of 1.04.

ILLEGAL ACTIVITY NOTICE: “Ecopetrol S.A. (EC) Upgraded by Zacks Investment Research to Buy” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/11/ecopetrol-s-a-ec-upgraded-by-zacks-investment-research-to-buy.html.

Institutional investors and hedge funds have recently made changes to their positions in the company. Point View Wealth Management Inc. purchased a new stake in shares of Ecopetrol during the second quarter valued at $100,000. Greenleaf Trust purchased a new stake in shares of Ecopetrol during the second quarter valued at $105,000. Conning Inc. purchased a new stake in shares of Ecopetrol during the second quarter valued at $113,000. KCG Holdings Inc. purchased a new stake in shares of Ecopetrol during the first quarter valued at $129,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Ecopetrol by 5.5% during the first quarter. Envestnet Asset Management Inc. now owns 13,951 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 729 shares during the last quarter. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Ecopetrol (NYSE:EC)

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