Price Action Report: Could Ecopetrol SA (ADR) See a Reversal After This Very Strong Session?

Price Action Report: Could Ecopetrol SA (ADR) See a Reversal After This Very Strong Session?

The stock of Ecopetrol SA (ADR) (NYSE:EC) is a huge mover today! About 1.24 million shares traded hands or 32.19% up from the average. Ecopetrol SA (ADR) (NYSE:EC) has declined 21.81% since April 27, 2016 and is downtrending. It has underperformed by 27.04% the S&P500.
The move comes after 5 months positive chart setup for the $16.77B company. It was reported on Nov, 30 by Barchart.com. We have $8.99 PT which if reached, will make NYSE:EC worth $1.01B more.

Ecopetrol SA (ADR) (NYSE:EC) Ratings Coverage

Out of 3 analysts covering Ecopetrol (NYSE:EC), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. Ecopetrol has been the topic of 5 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Deutsche Bank upgraded Ecopetrol SA (ADR) (NYSE:EC) on Wednesday, August 12 to “Sell” rating. The stock has “Hold” rating given by Deutsche Bank on Tuesday, March 8. On Friday, September 9 the stock rating was upgraded by Tudor Pickering to “Hold”.

According to Zacks Investment Research, “ECOPETROL S.A. is a Colombia-based petroleum company. The Company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia, as well as in other areas in Colombia and northern Peru. The Company’s operation includes the extraction, collection, treatment, storage and pumping or compression of hydrocarbons. Ecopetrol has four management divisions to handle the operation of 163 production fields. Ecopetrol’s production is concentrated in the upper, middle and lower Magdalena, the Eastern Plans and the Caribbean, and the provinces of Putumayo, Cesar and Norte de Santander.”

Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.07, from 1.16 in 2016Q1. The ratio dropped, as 17 funds sold all Ecopetrol SA (ADR) shares owned while 28 reduced positions. 14 funds bought stakes while 38 increased positions. They now own 42.95 million shares or 6.97% more from 40.15 million shares in 2016Q1.
Daiwa Grp Inc holds 0% of its portfolio in Ecopetrol SA (ADR) (NYSE:EC) for 2,600 shares. Morgan Stanley last reported 395,843 shares in the company. Deutsche Savings Bank Ag holds 427,207 shares or 0% of its portfolio. Ameritas Prns Inc has invested 0% of its portfolio in Ecopetrol SA (ADR) (NYSE:EC). Ny State Common Retirement Fund holds 47,298 shares or 0% of its portfolio. Point72 Asset Mgmt L P last reported 0.07% of its portfolio in the stock. Manufacturers Life Ins Commerce The has 0% invested in the company for 200 shares. The Australia-based Amp Cap Investors Limited has invested 0% in Ecopetrol SA (ADR) (NYSE:EC). Blackrock Gru Ltd last reported 0% of its portfolio in the stock. Kbc Grp Incorporated Nv accumulated 27,676 shares or 0% of the stock. Capstone Asset Management Company holds 0.01% or 39,358 shares in its portfolio. Ubs Asset Management Americas Inc holds 0% or 246,964 shares in its portfolio. The New Jersey-based State Of New Jersey Common Pension Fund D has invested 0.01% in Ecopetrol SA (ADR) (NYSE:EC). Bnp Paribas Arbitrage Sa accumulated 990 shares or 0% of the stock. Winfield Associates Inc has invested 0% of its portfolio in Ecopetrol SA (ADR) (NYSE:EC).

More recent Ecopetrol SA (ADR) (NYSE:EC) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on December 21, 2009. Also Quotes.Wsj.com published the news titled: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Marketwatch.com‘s news article titled: “Fitch reaffirms international investment grade rating of Ecopetrol SA” with publication date: July 27, 2016 was also an interesting one.

EC Company Profile

Ecopetrol S.A., incorporated on July 18, 2003, is an oil company. The Firm operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s divisions include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels.

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