The Goldman Sachs Group Cuts Ecopetrol (NYSE:EC) Price Target to $9.50

by · The Markets Daily

Ecopetrol (NYSE:EC – Free Report) had its price target reduced by The Goldman Sachs Group from $11.00 to $9.50 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other brokerages have also recently issued reports on EC. Bank of America cut Ecopetrol from a neutral rating to an underperform rating in a report on Thursday, May 30th. StockNews.com cut Ecopetrol from a buy rating to a hold rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, Ecopetrol currently has a consensus rating of Reduce and a consensus price target of $8.83.

Read Our Latest Stock Report on EC

Ecopetrol Stock Up 0.1 %

EC opened at $8.76 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58 and a quick ratio of 1.34. The stock has a market capitalization of $18.01 billion, a price-to-earnings ratio of 3.83 and a beta of 1.20. The business has a 50-day moving average of $9.94 and a two-hundred day moving average of $11.05. Ecopetrol has a 12 month low of $8.65 and a 12 month high of $13.14.

Hedge Funds Weigh In On Ecopetrol

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GQG Partners LLC lifted its position in Ecopetrol by 0.9% during the 1st quarter. GQG Partners LLC now owns 12,291,956 shares of the oil and gas company’s stock worth $145,537,000 after acquiring an additional 105,172 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in Ecopetrol during the 4th quarter worth approximately $15,652,000. Earnest Partners LLC lifted its position in Ecopetrol by 1.2% during the 1st quarter. Earnest Partners LLC now owns 510,803 shares of the oil and gas company’s stock worth $6,048,000 after acquiring an additional 5,844 shares in the last quarter. CenterBook Partners LP lifted its position in Ecopetrol by 136.6% during the 4th quarter. CenterBook Partners LP now owns 334,527 shares of the oil and gas company’s stock worth $3,988,000 after acquiring an additional 193,150 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Ecopetrol by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 272,126 shares of the oil and gas company’s stock worth $3,045,000 after acquiring an additional 15,467 shares in the last quarter.

Ecopetrol Company Profile

(Get Free Report)

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.

Recommended Stories