Ecopetrol (NYSE:EC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Ecopetrol (NYSE:EC) from a buy rating to a hold rating in a research report report published on Monday morning.

Other research analysts have also issued research reports about the stock. Citigroup raised shares of Ecopetrol from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $14.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upgraded shares of Ecopetrol from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $7.50 to $9.50 in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.00.

Ecopetrol Stock Up 2.3 %

Ecopetrol stock opened at $10.37 on Monday. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 4.96 and a beta of 1.22. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 1.38. Ecopetrol has a fifty-two week low of $7.21 and a fifty-two week high of $12.90. The firm has a fifty day moving average price of $9.46 and a two-hundred day moving average price of $8.72.

Ecopetrol Increases Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.5202 per share. This is an increase from Ecopetrol’s previous — dividend of $0.49. The ex-dividend date is Thursday, April 3rd. This represents a dividend yield of 30%. Ecopetrol’s payout ratio is presently 91.87%.

Institutional Trading of Ecopetrol

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its stake in Ecopetrol by 317.5% in the fourth quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 3,638 shares during the period. Platinum Investment Management Ltd. bought a new stake in Ecopetrol during the fourth quarter worth about $44,000. Blue Trust Inc. grew its stake in Ecopetrol by 33.5% during the fourth quarter. Blue Trust Inc. now owns 8,480 shares of the oil and gas company’s stock worth $67,000 after buying an additional 2,128 shares during the last quarter. SG Americas Securities LLC bought a new stake in Ecopetrol during the fourth quarter worth about $86,000. Finally, Signaturefd LLC grew its stake in Ecopetrol by 13.1% during the fourth quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company’s stock worth $87,000 after buying an additional 1,271 shares during the last quarter.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.