Ecopetrol SA (NYSE: EC) has recently experienced extremely important negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, its shorter term price trend turned down, and negative upside/downside volume developed.
Small negative changes in fundamentals have recently occurred for Ecopetrol SA (NYSE: EC): the consensus estimate for December, 2024 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, EC is expected to continue to be a major Value Builder.
Ecopetrol has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Ecopetrol has a very high Appreciation Score of 87 but a poor Power Rating of 17, triggering the Neutral Value Trend Rating.
Recent Price Action
On 6/12/24, Ecopetrol SA (NYSE: EC) stock declined slightly by -0.9%, closing at $11.82. Moreover, above average trading volume at 141% of normal accompanied the decline. Relative to the market the stock has been weak over the last nine months and has declined -2.2% during the last week.
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