Ecopetrol (NYSE:EC) Trading Up 6.2% – Should You Buy?

Shares of Ecopetrol S.A. (NYSE:EC) were up 6.2% on Thursday . The company traded as high as $12.32 and last traded at $12.31. Approximately 1,272,539 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 3,224,245 shares. The stock had previously closed at $11.59.

Wall Street Analysts Forecast Growth

EC has been the subject of a number of recent analyst reports. Bradesco Corretora set a $12.00 target price on Ecopetrol and gave the stock an “underperform” rating in a research report on Wednesday, February 4th. Weiss Ratings raised shares of Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $8.70 target price on shares of Ecopetrol in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $10.35.

Ecopetrol Trading Up 6.8%

The company has a current ratio of 1.53, a quick ratio of 1.26 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $25.45 billion, a P/E ratio of 10.40 and a beta of 0.64. The business’s fifty day simple moving average is $11.74 and its two-hundred day simple moving average is $10.23.

Institutional Trading of Ecopetrol

Several institutional investors have recently modified their holdings of EC. Smartleaf Asset Management LLC acquired a new position in Ecopetrol in the second quarter worth about $25,000. ORG Partners LLC boosted its stake in shares of Ecopetrol by 301.3% in the 4th quarter. ORG Partners LLC now owns 2,568 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,928 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Ecopetrol by 221.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,898 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 2,685 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Ecopetrol in the 3rd quarter worth about $40,000. Finally, Inspire Investing LLC acquired a new stake in shares of Ecopetrol during the fourth quarter worth approximately $88,000.

About Ecopetrol

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.