Ecopetrol (NYSE:EC) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

by · The Cerbat Gem

Ecopetrol S.A. (NYSE:EC – Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.11 and traded as high as $9.91. Ecopetrol shares last traded at $9.8550, with a volume of 2,570,586 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EC. Weiss Ratings restated a “sell (d+)” rating on shares of Ecopetrol in a report on Tuesday. Zacks Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.75.

View Our Latest Stock Analysis on EC

Ecopetrol Stock Up 2.4%

The company has a market capitalization of $20.26 billion, a P/E ratio of 7.52 and a beta of 0.81. The company has a 50-day moving average of $9.42 and a two-hundred day moving average of $9.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EC. Vanguard Group Inc. raised its position in shares of Ecopetrol by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,214,426 shares of the oil and gas company’s stock worth $33,559,000 after purchasing an additional 66,567 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Ecopetrol by 46.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,017,544 shares of the oil and gas company’s stock valued at $10,623,000 after purchasing an additional 321,132 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ecopetrol by 12.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,087,763 shares of the oil and gas company’s stock valued at $11,356,000 after purchasing an additional 119,323 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Ecopetrol during the 1st quarter valued at about $2,133,000. Finally, Stokes Family Office LLC raised its holdings in Ecopetrol by 25.2% in the second quarter. Stokes Family Office LLC now owns 212,808 shares of the oil and gas company’s stock worth $1,883,000 after buying an additional 42,819 shares during the last quarter.

About Ecopetrol

(Get Free Report)

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.

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