Ecopetrol SA (ADR) (EC) was Upgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Underweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jul 7, 2016.
Ecopetrol SA (ADR) closed down -0.44 points or -4.57% at $9.19 with 10,20,503 shares getting traded on Tuesday. Post opening the session at $9.39, the shares hit an intraday low of $9.165 and an intraday high of $9.49 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
Ecopetrol S.A. is an oil company. The Company’s 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 Cenit’s 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.