why Ecopetrol S.A. [EC] is a Good Choice for Investors After New Price Target of $14.31

Ecopetrol S.A. [NYSE: EC] closed the trading session at $10.01 on 03/15/23. The day’s price range saw the stock hit a low of $9.7001, while the highest price level was $10.16. The company report on February 28, 2023 that Ecopetrol’s 2022 Earnings Distribution Proposal.

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Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“Ecopetrol” or the “Company”) hereby informs of the Company’s 2022 earnings distribution proposal, approved by the Company’s Board of Directors, which will be submitted for the consideration of the General Shareholders’ Meeting that will take place on March 30, 2023:.

The stocks have a year to date performance of -4.39 percent and weekly performance of -11.57 percent. The stock has been moved at -7.40 percent over the last six months. The stock has performed -7.91 percent around the most recent 30 days and changed 9.64 percent over the most recent 3-months.

If compared to the average trading volume of 2.40M shares, EC reached to a volume of 5149229 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $14.31 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 2.70. 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.

HSBC Securities have made an estimate for Ecopetrol S.A. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 10, 2023. The new note on the price target was released on February 09, 2023, representing the official price target for Ecopetrol S.A. stock.

The Average True Range (ATR) for Ecopetrol S.A. is set at 0.45, with the Price to Sales ratio for EC stock in the period of the last 12 months amounting to 0.62. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 1.57. Price to Free Cash Flow for EC in the course of the last twelve months was 8.50 with Quick ratio for the last quarter at 1.10.

EC stock trade performance evaluation

Ecopetrol S.A. [EC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.57. With this latest performance, EC shares dropped by -7.91% in over the last four-week period, additionally sinking by -7.40% over the last 6 months – not to mention a drop of -36.42% 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 37.02, with the RSI for the last a single of trading hit 30.95, and the three-weeks RSI is set at 41.06 for Ecopetrol S.A. [EC]. The present Moving Average for the last 50 days of trading for this stock 11.05, while it was recorded at 10.56 for the last single week of trading, and 10.78 for the last 200 days.

Ecopetrol S.A. [EC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ecopetrol S.A. [EC] shares currently have an operating margin of +37.86 and a Gross Margin at +43.90. Ecopetrol S.A.’s Net Margin is presently recorded at +20.96.

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.

Earnings per share (EPS) analysis for Ecopetrol S.A. [EC] stock

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%.

Ecopetrol S.A. [EC]: Insider Ownership positions

There are presently around $395 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 4,573,017, which is approximately -11.121% of the company’s market cap and around 1.00% of the total institutional ownership; ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, holding 3,388,012 shares of the stock with an approximate value of $33.91 million in EC stocks shares; and MARSHALL WACE, LLP, currently with $32.36 million in EC stock with ownership of nearly 158.706% of the company’s market capitalization.

Positions in Ecopetrol S.A. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 88 institutional holders increased their position in Ecopetrol S.A. [NYSE:EC] by around 17,367,820 shares. Additionally, 69 investors decreased positions by around 5,046,696 shares, while 7 investors held positions by with 17,086,084 shares. The mentioned changes placed institutional holdings at 39,500,600 shares, according to the latest SEC report filing. EC stock had 41 new institutional investments in for a total of 4,128,530 shares, while 29 institutional investors sold positions of 839,497 shares during the same period.


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