Ecopetrol (NYSE:EC) Sets New 52-Week Low at $8.94

Ecopetrol S.A. (NYSE:EC) reached a new 52-week low during trading on Tuesday . The company traded as low as $8.94 and last traded at $8.97, with a volume of 151206 shares trading hands. The stock had previously closed at $9.04.

Analysts Set New Price Targets

EC has been the subject of a number of recent analyst reports. StockNews.com downgraded Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Bank of America downgraded Ecopetrol from a “neutral” rating to an “underperform” rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.22.

Ecopetrol Stock Down 3.3 %

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 company’s 50-day simple moving average is $10.43 and its two-hundred day simple moving average is $11.22. The firm has a market cap of $17.97 billion, a PE ratio of 3.93 and a beta of 1.20.

Institutional Trading of Ecopetrol

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC bought a new position in shares of Ecopetrol in the second quarter worth about $27,000. Blue Trust Inc. increased its holdings in shares of Ecopetrol by 258.6% in the 2nd quarter. Blue Trust Inc. now owns 2,697 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,945 shares during the last quarter. GAMMA Investing LLC grew its position in Ecopetrol by 58.2% in 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 in the last quarter. MQS Management LLC purchased a new stake in Ecopetrol during the 1st quarter valued at $125,000. Finally, Cetera Advisors LLC bought a new stake in Ecopetrol in the first quarter worth $141,000.

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.