Ecopetrol (NYSE:EC) Rating Increased to Neutral at JPMorgan Chase & Co.

Ecopetrol (NYSE:EC) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released 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 target indicates a potential downside of 1.45% from the company’s current price.

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

Ecopetrol Stock Down 1.6 %

EC stock opened at $9.64 on Thursday. The business has a 50 day moving average of $8.47 and a 200 day moving average of $8.77. The firm has a market cap of $19.82 billion, a PE ratio of 4.61 and a beta of 1.20. Ecopetrol has a twelve month low of $7.21 and a twelve month high of $12.90. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00.

Institutional Trading of Ecopetrol

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in shares of Ecopetrol by 13.1% during the fourth quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 1,271 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Ecopetrol by 10.7% in the fourth quarter. Wells Fargo & Company MN now owns 17,575 shares of the oil and gas company’s stock worth $139,000 after purchasing an additional 1,703 shares during the last quarter. Stokes Family Office LLC grew its position in Ecopetrol by 3.1% in the 4th quarter. Stokes Family Office LLC now owns 66,664 shares of the oil and gas company’s stock worth $528,000 after purchasing an additional 2,000 shares during the period. Blue Trust Inc. raised its stake in Ecopetrol by 33.5% during the 4th quarter. Blue Trust Inc. now owns 8,480 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 2,128 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in shares of Ecopetrol by 14.9% during the 4th quarter. EntryPoint Capital LLC now owns 16,975 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 2,197 shares during the period.

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.