The Goldman Sachs Group Trims Ecopetrol (NYSE:EC) Target Price to $9.50

Ecopetrol (NYSE:EC) had its target price reduced by The Goldman Sachs Group from $11.00 to $9.50 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut Ecopetrol from a buy rating to a hold rating in a research note on Tuesday, July 30th. Bank of America downgraded shares of Ecopetrol from a neutral rating to an underperform rating in a research report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Reduce and a consensus target price of $8.83.

Ecopetrol Price Performance

Shares of NYSE EC opened at $9.03 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58 and a quick ratio of 1.34. The business has a 50-day moving average of $9.90 and a 200-day moving average of $11.03. The stock has a market capitalization of $18.56 billion, a price-to-earnings ratio of 3.93 and a beta of 1.20. Ecopetrol has a fifty-two week low of $8.65 and a fifty-two week high of $13.14.

Institutional Investors Weigh In On Ecopetrol

Large investors have recently added to or reduced their stakes in the business. GQG Partners LLC boosted its position in Ecopetrol by 0.9% during the first quarter. GQG Partners LLC now owns 12,291,956 shares of the oil and gas company’s stock worth $145,537,000 after purchasing an additional 105,172 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in shares of Ecopetrol during the 4th quarter worth about $15,652,000. Earnest Partners LLC grew its stake in Ecopetrol by 1.2% in the 1st quarter. Earnest Partners LLC now owns 510,803 shares of the oil and gas company’s stock valued at $6,048,000 after buying an additional 5,844 shares during the last quarter. CenterBook Partners LP raised its holdings in Ecopetrol by 136.6% in the 4th quarter. CenterBook Partners LP now owns 334,527 shares of the oil and gas company’s stock valued at $3,988,000 after acquiring an additional 193,150 shares during the period. Finally, American Century Companies Inc. lifted its position in Ecopetrol by 6.0% during the second quarter. American Century Companies Inc. now owns 272,126 shares of the oil and gas company’s stock worth $3,045,000 after acquiring an additional 15,467 shares during the last quarter.

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.