JPMorgan Chase & Co. Upgrades Ecopetrol (NYSE:EC) to “Neutral”

Ecopetrol (NYSE:EC) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $9.50 target price on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 1.45% from the stock’s previous close.

Separately, StockNews.com downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.17.

Ecopetrol Stock Down 1.6 %

Shares of EC stock opened at $9.64 on Thursday. Ecopetrol has a 12 month low of $7.21 and a 12 month high of $12.90. The stock has a market cap of $19.82 billion, a P/E ratio of 4.61 and a beta of 1.20. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $8.47 and a two-hundred day simple moving average of $8.77.

Hedge Funds Weigh In On Ecopetrol

Several large investors have recently added to or reduced their stakes in EC. Lindbrook Capital LLC increased its stake in shares of Ecopetrol by 317.5% in the fourth quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 3,638 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in Ecopetrol in the 4th quarter worth $44,000. Blue Trust Inc. increased its stake in Ecopetrol by 135.5% in the 3rd quarter. Blue Trust Inc. now owns 6,352 shares of the oil and gas company’s stock worth $57,000 after buying an additional 3,655 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Ecopetrol in the 4th quarter worth $86,000. Finally, Signaturefd LLC lifted its position in shares of Ecopetrol by 13.1% in the fourth quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 1,271 shares in the last quarter.

Ecopetrol Company 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.