After three consecutive days of losses so far this week, Ecopetrol’s stock took a break this Thursday and closed higher, thus breaking the trend that predominated between Monday and Wednesday.
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According to the closing report of the Colombian Stock Exchange (BVC), the oil company’s title rose 0.58% and ended the day at an average price of $1,725. In the previous session, the stock traded at $1,721.
For its part, Its trading range moved between $1,740 (maximum price) and 1,720 (minimum price).
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The rise in the negotiation of Ecopetrol’s title was also felt on Wall Street, where it rose 0.25% and closed at an average price of 8.03 dollars.
Despite this Thursday’s rise, The stock adds to accumulated losses due to high oil price volatility and fears over the company’s corporate governance that has curbed investor enthusiasm for the company.jewel in the crown of the Nation.
Furthermore, since mid-September, the company’s stock has registered a predominantly negative behavior motivated by the downgrade of its rating by JP Morgan.
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The rating agency explained that its decision was based on the growing insecurity in the national territory, the inability to adjust fuel prices and the conflict of interest that exists between the company’s management and the shareholders, among other factors.
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