Ecopetrol S.A. [EC] Is Currently 1.58 below its 200 Period Moving Avg: What Does This Mean?

Ecopetrol S.A. [NYSE: EC] gained 1.58% or 0.18 points to close at $11.55 with a heavy trading volume of 3795207 shares. The company report on December 30, 2022 that Ecopetrol informs a petition on the Collective Bargaining Agreement.

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Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC, “Ecopetrol” or the “Company”) informs that Company’s coexisting unions filed a petition on the current Collective Bargaining Agreement. Ecopetrol also filed today a partial petition before the Ministry of Labor.

The Company’s current Collective Bargaining Agreement, covering Ecopetrol’s direct workers, was initially signed in 2018 for a term of four and a half years and is set to expire on December 31, 2022.

It opened the trading session at $11.35, the shares rose to $11.68 and dropped to $11.32, the range by which the price of stock traded the whole day. The daily chart for EC points out that the company has recorded 21.32% gains over the past six months. However, it is still -34.46% lower than its most recent low trading price.

If we look at the average trading volume of 2.43M shares, EC reached to a volume of 3795207 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ecopetrol S.A. [EC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EC shares is $14.34 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EC stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Ecopetrol S.A. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on March 02, 2022. The new note on the price target was released on December 16, 2021, representing the official price target for Ecopetrol S.A. stock. Previously, the target price had yet another raise to $16.50, while JP Morgan analysts kept a Underweight rating on EC stock.

The Average True Range (ATR) for Ecopetrol S.A. is set at 0.44, with the Price to Sales ratio for EC stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 1.63. Price to Free Cash Flow for EC in the course of the last twelve months was 6.92 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for EC stock

Ecopetrol S.A. [EC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.12. With this latest performance, EC shares gained by 26.51% in over the last four-week period, additionally plugging by 21.32% over the last 6 months – not to mention a drop of -10.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EC stock in for the last two-week period is set at 70.35, with the RSI for the last a single of trading hit 76.77, and the three-weeks RSI is set at 65.36 for Ecopetrol S.A. [EC]. The present Moving Average for the last 50 days of trading for this stock 9.95, while it was recorded at 11.24 for the last single week of trading, and 12.00 for the last 200 days.

Ecopetrol S.A. [EC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Ecopetrol S.A. [EC] shares currently have an operating margin of +21.99 and a Gross Margin at +29.05. Ecopetrol S.A.’s Net Margin is presently recorded at +20.64.

Return on Equity for this stock inclined to 26.96, with Return on Assets sitting at 8.70.

Ecopetrol S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.30.

Ecopetrol S.A. [EC]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ecopetrol S.A. go to -13.00%.

An analysis of insider ownership at Ecopetrol S.A. [EC]

There are presently around $317 million, or 1.50% of EC stock, in the hands of institutional investors. The top three institutional holders of EC stocks are: BLACKROCK INC. with ownership of 5,145,205, which is approximately 6.153% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 2,984,353 shares of the stock with an approximate value of $34.47 million in EC stocks shares; and FISHER ASSET MANAGEMENT, LLC, currently with $19.24 million in EC stock with ownership of nearly -2.873% of the company’s market capitalization.

74 institutional holders increased their position in Ecopetrol S.A. [NYSE:EC] by around 5,995,897 shares. Additionally, 62 investors decreased positions by around 8,138,356 shares, while 12 investors held positions by with 13,282,925 shares. The mentioned changes placed institutional holdings at 27,417,178 shares, according to the latest SEC report filing. EC stock had 27 new institutional investments in for a total of 2,233,264 shares, while 22 institutional investors sold positions of 5,921,582 shares during the same period.


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