Analyst Price Target Update on Ecopetrol S.A. (NYSE:EC)

Ecopetrol S.A. (NYSE:EC) shares are expected to touch $7.67 in the short term. This short term price target has been shared by 3 analysts. However, the standard deviation of short term price estimate has been valued at 1.04. The target price could hit $9 on the higher end and $7 on the lower end.

Many analysts have stated their opinion on the company shares. Deutsche Bank downgrades its rating on Ecopetrol S.A. (NYSE:EC). The global brokerage major raises a current price target of $10 per share. Analysts at the Deutsche Bank have a current rating of Hold on the shares. The shares were previously rated Buy. The rating by the firm was issued on March 8, 2016. The shares have received a consensus rating of Sell for the current week

Ecopetrol S.A. (NYSE:EC) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.16 points or 1.68% at $9.35 with 917,490 shares getting traded. Post opening the session at $9.38, the shares hit an intraday low of $9.25 and an intraday high of $9.475 and the price was in this range throughout the day. The company has a market cap of $19,222 million and the number of outstanding shares have been calculated to be 2,055,834,700 shares. The 52-week high of Ecopetrol S.A. (NYSE:EC) is $14.72 and the 52-week low is $5.16.

Ecopetrol S.A. is an oil company. The Companys business segments include Exploration and Production; Transportation and Logistics, and Refining, Petrochemicals, and Biofuels. The Exploration and Production business segment includes exploration, development and production activities in Colombia and abroad. It conducts exploration and production activities through some of its subsidiaries and through joint ventures with third parties. The transportation and logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. It conducts these activities through its wholly owned subsidiary Cenit and Cenits subsidiaries. Its key refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a wholly owned subsidiary of it. It has presence in Colombia, Peru, Brazil, Angola and the United States Gulf Coast.

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