Ecopetrol Raised To “Hold” By Zacks Investment Research

Instant Max AI

(Daily Political, 15.Feb.2019) — According to Zacks, “In Colombia, Ecopetrol is the largest energy firm with an integrated business model. The company’s businesses are well diversified. It has helped Ecopetrol post EBITDA margin of 48% in first nine months of 2018, the strongest since 2014. The company’s Cartagena refinery has been witnessing a steady rise in throughput volumes backing improving refining margins. The Cartagena unit reported throughput volumes of 158 thousand barrel per day, the highest in the past four quarters. However, the inefficient use of capital could hurt the company’s growth. Moreover, during the first nine months of 2018, Ecopetrol’s cash balance plunged almost 73% to $4.4 billion. This might reduce the company’s ability to raise more funds from the market. Therefore, the stock warrants a cautious stance.”

Other equities analysts have also recently issued research reports about the company. UBS Group raised Ecopetrol from a “sell” rating to a “neutral” rating in a report on Wednesday, December 12th. ValuEngine lowered Ecopetrol from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Citigroup set a $21.00 price objective on Ecopetrol and gave the stock a “hold” rating in a report on Monday, December 17th. Finally, Raymond James raised Ecopetrol from an “underperform” rating to a “market perform” rating in a report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $20.67.

Shares of EC stock traded up $0.23 on Friday, reaching $19.03. 12,385 shares of the company’s stock traded hands, compared to its average volume of 795,304. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.58. Ecopetrol has a 12-month low of $15.25 and a 12-month high of $27.96. The company has a market capitalization of $39.08 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 0.64 and a beta of 1.51.

Institutional investors have recently modified their holdings of the stock. Enlightenment Research LLC bought a new position in Ecopetrol during the 4th quarter worth about $27,000. We Are One Seven LLC bought a new position in Ecopetrol during the 4th quarter worth about $31,000. Financial Gravity Companies Inc. bought a new position in Ecopetrol during the 4th quarter worth about $36,000. Quantamental Technologies LLC bought a new position in Ecopetrol during the 4th quarter worth about $64,000. Finally, Quadrant Capital Group LLC increased its holdings in Ecopetrol by 117.9% during the 4th quarter. Quadrant Capital Group LLC now owns 5,908 shares of the oil and gas company’s stock worth $90,000 after purchasing an additional 3,197 shares in the last quarter. 2.97% of the stock is currently owned by institutional investors and hedge funds.

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