Ecopetrol (NYSE:EC) Stock Crosses Above 50-Day Moving Average of $17.99

Ecopetrol SA (NYSE:EC) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $17.99 and traded as high as $18.97. Ecopetrol shares last traded at $18.72, with a volume of 28,118 shares trading hands.

EC has been the topic of a number of analyst reports. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Citigroup set a $86.00 price objective on Prologis and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered First Quantum Minerals from an “overweight” rating to a “neutral” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Ecopetrol presently has an average rating of “Hold” and an average price target of $23.33.

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market cap of $38.88 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.54 and a beta of 1.55. The company’s 50 day simple moving average is $18.03.

Ecopetrol (NYSE:EC) last announced its earnings results on Tuesday, May 7th. The oil and gas company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.94 billion. Ecopetrol had a return on equity of 10.58% and a net margin of 16.56%. As a group, equities research analysts forecast that Ecopetrol SA will post 2.02 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in EC. Lindbrook Capital LLC boosted its holdings in Ecopetrol by 116.6% during the 1st quarter. Lindbrook Capital LLC now owns 1,315 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 708 shares during the period. Belpointe Asset Management LLC purchased a new stake in Ecopetrol during the 1st quarter valued at about $109,000. Advisors Preferred LLC purchased a new stake in Ecopetrol during the 1st quarter valued at about $110,000. Campbell & CO Investment Adviser LLC purchased a new stake in Ecopetrol during the 2nd quarter valued at about $208,000. Finally, NumerixS Investment Technologies Inc boosted its holdings in Ecopetrol by 34.2% during the 1st quarter. NumerixS Investment Technologies Inc now owns 13,054 shares of the oil and gas company’s stock valued at $278,000 after acquiring an additional 3,327 shares during the period. Institutional investors and hedge funds own 2.84% of the company’s stock.

Ecopetrol Company Profile (NYSE:EC)

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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