Creative Planning acquired a new position in Ecopetrol S.A. (NYSE:EC – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,319 shares of the oil and gas company’s stock, valued at approximately $198,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ridgewood Investments LLC bought a new stake in Ecopetrol in the 1st quarter valued at $25,000. Psagot Value Holdings Ltd. Israel purchased a new stake in shares of Ecopetrol during the 1st quarter worth approximately $36,000. Penserra Capital Management LLC purchased a new stake in Ecopetrol during the first quarter valued at $47,000. McIlrath & Eck LLC purchased a new stake in Ecopetrol during the first quarter valued at $53,000. Finally, Sunbelt Securities Inc. purchased a new stake in Ecopetrol during the first quarter valued at approximately $57,000. 1.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Ecopetrol from $12.50 to $13.90 and gave the company a “neutral” rating in a research report on Friday, August 18th. Citigroup lowered Ecopetrol from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research report on Wednesday, September 13th. Bank of America assumed coverage on Ecopetrol in a research report on Wednesday, August 23rd. They set a “neutral” rating and a $11.50 target price for the company. StockNews.com assumed coverage on Ecopetrol in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Jefferies Financial Group assumed coverage on Ecopetrol in a research report on Thursday, September 21st. They set an “underperform” rating and a $11.20 target price for the company. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.35.
Ecopetrol Price Performance
EC opened at $12.16 on Thursday. Ecopetrol S.A. has a 12-month low of $8.59 and a 12-month high of $13.08. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $11.85 and its 200-day simple moving average is $10.89. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 4.37 and a beta of 1.42.
Ecopetrol (NYSE:EC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.08). Ecopetrol had a return on equity of 12.28% and a net margin of 16.74%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.95 billion. On average, equities research analysts anticipate that Ecopetrol S.A. will post 2.17 earnings per share for the current fiscal year.
Ecopetrol Profile
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.
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