Could Ecopetrol S.A. (EC) Skyrocket Even More? The Stock Just Made 52-Week High

January 10, 2018 - By Richard Conner

Investors sentiment increased to 1.31 in Q3 2017. Its up 0.43, from 0.88 in 2017Q2. It increased, as 10 investors sold Ecopetrol S.A. shares while 26 reduced holdings. 19 funds opened positions while 28 raised stakes. 38.42 million shares or 2.62% less from 39.45 million shares in 2017Q2 were reported.
Dimensional Fund Advsrs L P, Texas-based fund reported 1.50 million shares. Ww Asset stated it has 120,769 shares or 0.04% of all its holdings. Moreover, Royal Bancshares Of Canada has 0% invested in Ecopetrol S.A. (NYSE:EC). Wetherby Asset Management reported 0.03% in Ecopetrol S.A. (NYSE:EC). Cornerstone Advsr owns 0% invested in Ecopetrol S.A. (NYSE:EC) for 92 shares. Deutsche Retail Bank Ag reported 0% of its portfolio in Ecopetrol S.A. (NYSE:EC). Deprince Race And Zollo invested 0.03% in Ecopetrol S.A. (NYSE:EC). Thomas White stated it has 0% of its portfolio in Ecopetrol S.A. (NYSE:EC). Meag Munich Ergo Kapitalanlagegesellschaft Mbh stated it has 12,000 shares. Ameritas Inv Prtn Inc invested in 0% or 1,159 shares. The Michigan-based Greenleaf Tru has invested 0% in Ecopetrol S.A. (NYSE:EC). Panagora Asset Mngmt accumulated 0% or 65,936 shares. State Of New Jersey Common Pension Fund D holds 0% or 15,500 shares. 89,500 were reported by Numeric Investors Limited Com. Citadel Advsr Limited Company reported 0% in Ecopetrol S.A. (NYSE:EC).

The stock of Ecopetrol S.A. (NYSE:EC) hit a new 52-week high and has $18.35 target or 3.00 % above today’s $17.82 share price. The 5 months bullish chart indicates low risk for the $36.65 billion company. The 1-year high was reported on Jan, 10 by Barchart.com. If the $18.35 price target is reached, the company will be worth $1.10B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 2.15% or $0.375 during the last trading session, reaching $17.815. About 758,348 shares traded. Ecopetrol S.A. (NYSE:EC) has risen 7.58% since January 10, 2017 and is uptrending. It has underperformed by 9.12% the S&P500.

Ecopetrol S.A. (NYSE:EC) Ratings Coverage

Among 8 analysts covering Ecopetrol (NYSE:EC), 2 have Buy rating, 1 Sell and 5 Hold. Therefore 25% are positive. Ecopetrol has $12.0 highest and $4 lowest target. $8.83’s average target is -50.44% below currents $17.815 stock price. Ecopetrol had 12 analyst reports since August 12, 2015 according to SRatingsIntel. The rating was upgraded by Citigroup on Wednesday, December 6 to “Hold”. As per Tuesday, November 28, the company rating was downgraded by Raymond James. The stock of Ecopetrol S.A. (NYSE:EC) earned “Buy” rating by Deutsche Bank on Wednesday, December 7. The firm has “Hold” rating given on Wednesday, October 25 by J.P. Morgan. The firm earned “Equal-Weight” rating on Wednesday, May 31 by Morgan Stanley. The company was downgraded on Tuesday, March 8 by Deutsche Bank. The stock of Ecopetrol S.A. (NYSE:EC) has “Sell” rating given on Wednesday, August 12 by Deutsche Bank. The rating was upgraded by HSBC to “Buy” on Monday, June 5. The rating was upgraded by JP Morgan on Wednesday, October 25 to “Neutral”. The firm has “Hold” rating given on Friday, September 9 by Tudor Pickering.

More recent Ecopetrol S.A. (NYSE:EC) news were published by: Prnewswire.com which released: “Ecopetrol SA voluntarily delists its ADRs from the Toronto Stock Exchange” on February 26, 2016. Also Quotes.Wsj.com published the news titled: “Ecopetrol SA ADR” on February 11, 2011. Livetradingnews.com‘s news article titled: “Ecopetrol SA (ADR) (NYSE:EC) Stock Consolidating” with publication date: December 08, 2017 was also an interesting one.

Ecopetrol S.A. operates as an integrated oil company. The company has market cap of $36.65 billion. It operates through three divisions: Exploration and Production; Transport and Logistics; and Refining, Petrochemical and Biofuels. It has a 25.45 P/E ratio. The firm produces crude gas and oil; and engages in the extraction, collection, treatment, storage and pumping, or compression of hydrocarbons.

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