Ecopetrol S.A. (NYSE:EC – Get Free Report)’s share price reached a new 52-week low on Wednesday . The company traded as low as $9.30 and last traded at $9.31, with a volume of 1216034 shares trading hands. The stock had previously closed at $9.46.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on EC. Bank of America downgraded 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 research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.22.
View Our Latest Analysis on EC
Ecopetrol Trading Down 0.3 %
Hedge Funds Weigh In On Ecopetrol
Several hedge funds have recently bought and sold shares of EC. Ridgewood Investments LLC bought a new stake in Ecopetrol during the second quarter valued at about $27,000. Blue Trust Inc. boosted its stake in Ecopetrol by 258.6% during the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,945 shares during the period. GAMMA Investing LLC grew its holdings in Ecopetrol by 58.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 2,355 shares during the last quarter. MQS Management LLC bought a new position in Ecopetrol in the 1st quarter worth approximately $125,000. Finally, Cetera Advisors LLC acquired a new position in shares of Ecopetrol during the first quarter worth approximately $141,000.
About Ecopetrol
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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