Arrowstreet Capital Limited Partnership purchased a new stake in shares of Ecopetrol S.A. (NYSE:EC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,737,389 shares of the oil and gas company's stock, valued at approximately $13,760,000. Arrowstreet Capital Limited Partnership owned 0.08% of Ecopetrol as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in EC. Lindbrook Capital LLC increased its holdings 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 purchasing an additional 3,638 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Ecopetrol during the 4th quarter worth about $44,000. Blue Trust Inc. increased its stake in shares of Ecopetrol by 33.5% in the 4th quarter. Blue Trust Inc. now owns 8,480 shares of the oil and gas company's stock valued at $67,000 after acquiring an additional 2,128 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ecopetrol in the 4th quarter valued at approximately $86,000. Finally, Signaturefd LLC boosted its stake in Ecopetrol by 13.1% during the 4th quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company's stock worth $87,000 after acquiring an additional 1,271 shares during the last quarter.
Wall Street Analysts Forecast Growth
EC has been the subject of several recent analyst reports. Citigroup raised shares of Ecopetrol from a "neutral" rating to a "buy" rating and upped their target price for the company from $9.00 to $14.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised shares of Ecopetrol from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $7.50 to $9.50 in a report on Thursday, February 13th. Finally, StockNews.com downgraded Ecopetrol from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ecopetrol presently has an average rating of "Hold" and an average price target of $11.00.
Get Our Latest Stock Report on Ecopetrol
Ecopetrol Stock Up 9.8 %
EC traded up $0.80 during trading on Wednesday, reaching $8.94. The company had a trading volume of 5,684,044 shares, compared to its average volume of 2,334,422. The company has a market cap of $18.37 billion, a P/E ratio of 4.28 and a beta of 0.86. Ecopetrol S.A. has a 12 month low of $7.21 and a 12 month high of $12.67. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 1.38. The business's fifty day moving average price is $9.89 and its 200 day moving average price is $8.80.
Ecopetrol Cuts Dividend
The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Monday, April 28th will be given a $0.5202 dividend. The ex-dividend date is Monday, April 28th. This represents a yield of 34.2%. Ecopetrol's dividend payout ratio is currently 49.76%.
Ecopetrol Company Profile
(
Free Report)
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.
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