Ecopetrol SA (NYSE: EC) has recently experienced extremely meaningful negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, and its shorter term price trend turned down.
Notable negative changes in fundamentals have recently occurred for Ecopetrol SA (NYSE: EC): the stock’s power rating fell below 50, and the consensus estimate for December, 2024 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of B. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
EC is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Ecopetrol has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Ecopetrol has a very high Appreciation Score of 88 but a neutral Power Rating of 44, leading to the Positive Value Trend Rating.
Recent Price Action
Ecopetrol SA (NYSE: EC) stock declined by -3.1% on 4/12/24. The shares closed at $11.70. Moreover, this decline was accompanied by above average trading volume at 127% of normal. The stock has performed in line with the market over the last nine months and has declined -3.5% during the last week.
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