Ecopetrol (NYSE:EC) Price Target Raised to $11.90 at The Goldman Sachs Group

Ecopetrol (NYSE:EC) had its price target upped by equities researchers at The Goldman Sachs Group from $10.30 to $11.90 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 3.21% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Morgan Stanley lowered shares of Ecopetrol from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $11.00 to $8.50 in a report on Monday, March 4th. JPMorgan Chase & Co. decreased their price objective on shares of Ecopetrol from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.27.

Ecopetrol Stock Up 0.7 %

Shares of NYSE EC traded up $0.08 during mid-day trading on Thursday, reaching $11.53. 319,843 shares of the company were exchanged, compared to its average volume of 2,018,682. The firm has a 50-day moving average of $11.50 and a 200 day moving average of $11.88. Ecopetrol has a 1 year low of $8.59 and a 1 year high of $13.14. The company has a current ratio of 1.47, a quick ratio of 1.24 and a debt-to-equity ratio of 0.90.

Hedge Funds Weigh In On Ecopetrol

A number of hedge funds have recently bought and sold shares of EC. Confluence Investment Management LLC purchased a new stake in Ecopetrol during the 1st quarter worth approximately $182,000. Wellington Management Group LLP purchased a new position in Ecopetrol during the fourth quarter worth approximately $475,000. GSA Capital Partners LLP grew its holdings in Ecopetrol by 49.9% in the 4th quarter. GSA Capital Partners LLP now owns 65,197 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 21,700 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Ecopetrol by 59.2% during the 4th quarter. Atlas Capital Advisors LLC now owns 18,515 shares of the oil and gas company’s stock worth $221,000 after acquiring an additional 6,885 shares during the period. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of Ecopetrol during the 4th quarter valued at about $486,000.

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.