Ecopetrol (NYSE:EC) Sets New 52-Week Low at $10.17

Ecopetrol S.A. (NYSE:EC) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $10.17 and last traded at $10.24, with a volume of 271201 shares. The stock had previously closed at $10.42.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Ecopetrol from $10.30 to $11.90 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. StockNews.com cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America downgraded shares of Ecopetrol from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 30th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.27.

Ecopetrol Stock Down 3.5 %

The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 4.53 and a beta of 1.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.58. The business’s 50 day moving average is $11.45 and its 200 day moving average is $11.58.

Ecopetrol (NYSE:EC) last released its earnings results on Wednesday, May 8th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Ecopetrol had a net margin of 14.35% and a return on equity of 8.82%. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.19 billion. Equities analysts expect that Ecopetrol S.A. will post 2.41 earnings per share for the current year.

Institutional Trading of Ecopetrol

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of Ecopetrol by 258.6% in the second quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,945 shares during the period. GAMMA Investing LLC lifted its holdings in Ecopetrol by 58.2% during the second quarter. GAMMA Investing LLC now owns 6,402 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 2,355 shares during the period. Ridgewood Investments LLC bought a new position in Ecopetrol in the 2nd quarter valued at $27,000. Anfield Capital Management LLC grew its position in Ecopetrol by 18.7% during the fourth quarter. Anfield Capital Management LLC now owns 18,949 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 2,982 shares during the period. Finally, SeaCrest Wealth Management LLC grew its stake in shares of Ecopetrol by 5.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 59,397 shares of the oil and gas company’s stock worth $665,000 after acquiring an additional 3,145 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.