Ecopetrol (NYSE:EC) Sets New 52-Week Low – What’s Next?

Ecopetrol S.A. (NYSE:EC)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $8.55 and last traded at $8.55, with a volume of 46854 shares changing hands. The stock had previously closed at $8.69.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Ecopetrol from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $12.00 to $8.50 in a report on Wednesday, September 25th. StockNews.com cut Ecopetrol from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their target price on Ecopetrol from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, Ecopetrol currently has an average rating of “Reduce” and an average target price of $8.83.

Ecopetrol Trading Down 1.4 %

The company has a market capitalization of $16.91 billion, a price-to-earnings ratio of 3.58 and a beta of 1.20. The business’s 50 day moving average price is $9.44 and its two-hundred day moving average price is $10.81.

Ecopetrol (NYSE:EC) last issued its earnings results on Wednesday, August 14th. The oil and gas company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.15). The company had revenue of $8.32 billion during the quarter, compared to analyst estimates of $8.49 billion. Ecopetrol had a net margin of 13.92% and a return on equity of 6.64%. Analysts expect that Ecopetrol S.A. will post 2.06 EPS for the current year.

Institutional Investors Weigh In On Ecopetrol

Hedge funds and other institutional investors have recently bought and sold shares of the company. Confluence Investment Management LLC bought a new position in Ecopetrol in the first quarter valued at about $182,000. SeaCrest Wealth Management LLC increased its stake in shares of Ecopetrol by 30.9% in the first quarter. SeaCrest Wealth Management LLC now owns 56,252 shares of the oil and gas company’s stock valued at $666,000 after buying an additional 13,293 shares during the period. Private Advisor Group LLC increased its stake in shares of Ecopetrol by 18.6% in the first quarter. Private Advisor Group LLC now owns 31,872 shares of the oil and gas company’s stock valued at $377,000 after buying an additional 4,996 shares during the period. Quantbot Technologies LP raised its holdings in Ecopetrol by 66.6% in the 1st quarter. Quantbot Technologies LP now owns 74,194 shares of the oil and gas company’s stock valued at $878,000 after buying an additional 29,651 shares during the last quarter. Finally, Stokes Family Office LLC boosted its position in Ecopetrol by 10.6% during the 1st quarter. Stokes Family Office LLC now owns 104,714 shares of the oil and gas company’s stock worth $1,240,000 after buying an additional 10,000 shares during the period.

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.