Ecopetrol (NYSE:EC) Sees Unusually-High Trading Volume

Ecopetrol S.A. (NYSE:EC) shares saw unusually-strong trading volume on Monday . Approximately 35,034 shares were traded during mid-day trading, a decline of 97% from the previous session’s volume of 1,030,701 shares.The stock last traded at $13.82 and had previously closed at $13.24.

Separately, Zacks Investment Research cut Ecopetrol from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.08.

The stock has a market capitalization of $28.62 billion, a P/E ratio of 12.77, a PEG ratio of 0.16 and a beta of 1.85. The stock’s fifty day moving average is $13.38 and its 200-day moving average is $13.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.51 and a quick ratio of 1.14.

Ecopetrol (NYSE:EC) last released its earnings results on Wednesday, August 4th. The oil and gas company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.06). The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.26 billion. Ecopetrol had a return on equity of 7.49% and a net margin of 13.23%. On average, research analysts expect that Ecopetrol S.A. will post 1.9 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its position in shares of Ecopetrol by 7.3% during the first quarter. Mercer Global Advisors Inc. ADV now owns 12,444 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 846 shares during the last quarter. Citigroup Inc. raised its position in Ecopetrol by 5.8% in the second quarter. Citigroup Inc. now owns 19,941 shares of the oil and gas company’s stock worth $292,000 after purchasing an additional 1,091 shares in the last quarter. American Century Companies Inc. raised its position in Ecopetrol by 7.1% in the second quarter. American Century Companies Inc. now owns 23,006 shares of the oil and gas company’s stock worth $336,000 after purchasing an additional 1,525 shares in the last quarter. Bfsg LLC raised its position in Ecopetrol by 6.7% in the second quarter. Bfsg LLC now owns 25,940 shares of the oil and gas company’s stock worth $379,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Colony Group LLC raised its position in Ecopetrol by 12.0% in the second quarter. Colony Group LLC now owns 15,582 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 1,674 shares in the last quarter. 1.50% of the stock is owned by hedge funds and other institutional investors.

About Ecopetrol (NYSE:EC)

Ecopetrol SA engages in the exploration, development, and production of crude oil and natural gas. It operates through the following segments: Exploration and Production, Transportation and Logistics, and Refining and Petrochemicals. The Exploration and Production segment deals with oil and gas exploration and production activities.

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