why Ecopetrol SA ADR [EC] is a Good Choice for Investors After New Price Target of $12.49

NFLX Stock

Ecopetrol SA ADR [NYSE: EC] traded at a high on Wednesday, posting a 1.50 gain after which it closed the day’ session at $12.89. The company report on March 27, 2024 at 11:47 PM that Ecopetrol publishes financial information for the year 2023.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that, in accordance with External Circular 012 of 2022 issued by the Superintendency of Finance of Colombia, has published the consolidated and separate financial statements as of 31 December 2023, which can be consulted in Spanish at the following link:.

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The results of the trading session contributed to over 4056504 shares changing hands. Over the past one week, the price volatility of Ecopetrol SA ADR stands at 3.23% while the volatility over the past one month is 2.53%.

The market cap for EC stock reached $26.50 billion, with 2.06 billion shares outstanding and 2.06 billion shares in the current float. Compared to the average trading volume of 1.94M shares, EC reached a trading volume of 4056504 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ecopetrol SA ADR [EC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EC shares is $12.49 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 3.00. 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 SA ADR shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 04, 2024. While these analysts kept the previous recommendation, Jefferies raised their target price to Underperform. The new note on the price target was released on September 21, 2023, representing the official price target for Ecopetrol SA ADR stock.

The Average True Range (ATR) for Ecopetrol SA ADR is set at 0.32, with the Price to Sales ratio for EC stock in the period of the last 12 months amounting to 0.82. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 1.78. Price to Free Cash Flow for EC in the course of the last twelve months was 18.43 with Quick ratio for the last quarter at 1.33.

How has EC stock performed recently?

Ecopetrol SA ADR [EC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.40. With this latest performance, EC shares gained by 19.68% in over the last four-week period, additionally plugging by 16.71% over the last 6 months – not to mention a rise of 27.14% 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 76.21, with the RSI for the last a single of trading hit 84.91, and the three-weeks RSI is set at 69.22 for Ecopetrol SA ADR [EC]. The present Moving Average for the last 50 days of trading for this stock 11.53, while it was recorded at 12.17 for the last single week of trading, and 11.67 for the last 200 days.

Ecopetrol SA ADR [EC]: Deeper insight into the fundamentals

Ecopetrol SA ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.33 and a Current Ratio set at 1.58.

Earnings analysis for Ecopetrol SA ADR [EC]

With the latest financial reports released by the company, Ecopetrol SA ADR posted 0.58/share EPS, while the average EPS was predicted by analysts to be reported at 0.53/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.40%. 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 SA ADR go to -5.50%.

Insider trade positions for Ecopetrol SA ADR [EC]

The top three institutional holders of EC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in EC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in EC stock with ownership which is approximately 5.8386%.