Ecopetrol (NYSE:EC) Rating Increased to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Ecopetrol (NYSE:EC) from an underweight rating to a neutral rating in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has $9.50 price target on the oil and gas company’s stock, up from their prior price target of $7.50.

Separately, StockNews.com downgraded Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, Ecopetrol currently has a consensus rating of “Hold” and an average price target of $9.17.

Ecopetrol Stock Performance

NYSE EC opened at $10.25 on Thursday. Ecopetrol has a fifty-two week low of $7.21 and a fifty-two week high of $12.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.68. The firm has a market capitalization of $21.06 billion, a P/E ratio of 4.90 and a beta of 1.20. The stock has a 50-day simple moving average of $8.47 and a two-hundred day simple moving average of $8.77.

Institutional Investors Weigh In On Ecopetrol

A number of institutional investors have recently modified their holdings of EC. Arrowstreet Capital Limited Partnership acquired a new position in Ecopetrol in the 4th quarter worth about $13,760,000. Charles Schwab Investment Management Inc. increased its position in shares of Ecopetrol by 63.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 696,412 shares of the oil and gas company’s stock valued at $5,516,000 after buying an additional 271,296 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Ecopetrol during the 4th quarter worth approximately $2,060,000. Marshall Wace LLP lifted its position in shares of Ecopetrol by 172.3% during the 4th quarter. Marshall Wace LLP now owns 370,555 shares of the oil and gas company’s stock valued at $2,935,000 after buying an additional 234,459 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Ecopetrol in the 4th quarter valued at $1,523,000.

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.