Stock Rating Downgrade
The Value Trend Rating for Ecopetrol SA (NYSE: EC) weakened of late from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
On 6/7/24, Ecopetrol SA (NYSE: EC) stock declined slightly by -0.3%, closing at $11.99. However, this decline was accompanied by below average trading volume at 69% of normal. Relative to the market the stock has been weak over the last nine months and has declined -2.4% during the last week.
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). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Ecopetrol has a very high Appreciation Score of 87 but a poor Power Rating of 17, resulting in the Neutral Value Trend Rating.
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