Ecopetrol (NYSE:EC) Sees Large Volume Increase – What’s Next?

Ecopetrol S.A. (NYSE:EC) saw an uptick in trading volume on Monday . 1,359,130 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 2,099,693 shares.The stock last traded at $8.10 and had previously closed at $7.92.

Wall Street Analysts Forecast Growth

Several research firms have commented on EC. JPMorgan Chase & Co. dropped their price objective on shares of Ecopetrol from $8.50 to $7.50 and set an “underweight” rating for the company in a report on Wednesday, October 30th. StockNews.com raised Ecopetrol from a “hold” rating to a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group cut their target price on shares of Ecopetrol from $11.00 to $9.50 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.50.

Ecopetrol Stock Performance

The firm has a market cap of $16.56 billion, a PE ratio of 3.55 and a beta of 1.21. The business has a 50 day simple moving average of $8.41 and a two-hundred day simple moving average of $10.13. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 1.00.

Institutional Investors Weigh In On Ecopetrol

Large investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new position in shares of Ecopetrol during the 2nd quarter worth $27,000. Blue Trust Inc. raised 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 valued at $32,000 after purchasing an additional 1,945 shares in the last quarter. GAMMA Investing LLC increased 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 valued at $72,000 after buying an additional 2,355 shares during the period. MQS Management LLC bought a new position in shares of Ecopetrol in the 1st quarter worth $125,000. Finally, Cetera Advisors LLC bought a new position in Ecopetrol in the first quarter worth about $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.