Ecopetrol (EC) Given a $21.00 Price Target at Citigroup

Citigroup set a $21.00 price target on Ecopetrol (NYSE:EC) in a research report sent to investors on Monday, The Fly reports. The firm currently has a hold rating on the oil and gas company’s stock.

A number of other research firms also recently issued reports on EC. Zacks Investment Research downgraded shares of Ecopetrol from a strong-buy rating to a hold rating in a research report on Tuesday, September 25th. Raymond James upgraded shares of Ecopetrol from an underperform rating to a market perform rating in a research report on Monday, October 22nd. Finally, UBS Group upgraded shares of Ecopetrol from a sell rating to a neutral rating in a research report on Wednesday, December 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $20.67.

Ecopetrol stock opened at $18.03 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.33. Ecopetrol has a 12-month low of $13.00 and a 12-month high of $27.96. The firm has a market cap of $37.75 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.53 and a beta of 1.38.

Ecopetrol (NYSE:EC) last released its earnings results on Tuesday, November 6th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). Ecopetrol had a net margin of 19.13% and a return on equity of 13.27%. The company had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.89 billion. On average, equities research analysts expect that Ecopetrol will post 2.1 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in EC. Acadian Asset Management LLC increased its stake in Ecopetrol by 10.4% during the 3rd quarter. Acadian Asset Management LLC now owns 10,902,690 shares of the oil and gas company’s stock valued at $293,612,000 after purchasing an additional 1,023,316 shares in the last quarter. Renaissance Technologies LLC increased its stake in Ecopetrol by 6.1% during the 3rd quarter. Renaissance Technologies LLC now owns 7,582,524 shares of the oil and gas company’s stock valued at $204,197,000 after purchasing an additional 432,624 shares in the last quarter. Fisher Asset Management LLC increased its stake in Ecopetrol by 135.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,740,247 shares of the oil and gas company’s stock valued at $46,865,000 after purchasing an additional 1,001,229 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in Ecopetrol by 96.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,429,000 shares of the oil and gas company’s stock valued at $38,483,000 after purchasing an additional 703,000 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Ecopetrol by 12.7% during the 3rd quarter. BlackRock Inc. now owns 1,325,332 shares of the oil and gas company’s stock valued at $35,691,000 after purchasing an additional 149,455 shares in the last quarter. Institutional investors own 2.99% of the company’s stock.

About Ecopetrol

Ecopetrol SA operates as an integrated oil and gas company. It operates through three segments: Exploration and Production; Refining, Petrochemical, and Biofuels; and Transport and Logistics. The company produces crude oil and gas; and engages in the extraction, collection, treatment, storage and pumping or compression of hydrocarbons.

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The Fly

Analyst Recommendations for Ecopetrol (NYSE:EC)

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