Ecopetrol (NYSE:EC) Rating Lowered to Hold at StockNews.com

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

A number of other research firms have also commented on EC. JPMorgan Chase & Co. raised shares of Ecopetrol from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $7.50 to $9.50 in a research note on Thursday, February 13th. Citigroup raised shares of Ecopetrol from a “neutral” rating to a “buy” rating and upped their price target for the company from $9.00 to $14.00 in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ecopetrol presently has an average rating of “Hold” and a consensus price target of $11.00.

Ecopetrol Price Performance

Ecopetrol stock opened at $10.21 on Monday. The firm has a market cap of $20.98 billion, a P/E ratio of 4.88 and a beta of 1.22. The stock’s 50 day moving average is $9.53 and its 200 day moving average is $8.74. 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 one year low of $7.21 and a one year high of $12.90.

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 paid a $0.5202 dividend. The ex-dividend date is Thursday, April 3rd. This represents a dividend yield of 30%. This is a positive change from Ecopetrol’s previous — dividend of $0.49. Ecopetrol’s payout ratio is currently 91.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Ecopetrol by 81.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,116 shares of the oil and gas company’s stock worth $3,796,000 after buying an additional 190,293 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of Ecopetrol during the fourth quarter worth approximately $790,000. SBI Securities Co. Ltd. acquired a new position in shares of Ecopetrol during the fourth quarter worth approximately $2,060,000. Strategic Financial Concepts LLC bought a new position in shares of Ecopetrol in the 4th quarter worth $179,000. Finally, BNP Paribas Financial Markets grew its position in Ecopetrol by 61.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 56,783 shares of the oil and gas company’s stock valued at $507,000 after purchasing an additional 21,703 shares during the period.

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.