Ecopetrol (NYSE:EC) Shares Down 5.2% - What's Next?

Ecopetrol S.A. (NYSE:EC - Get Free Report)'s stock price fell 5.2% during mid-day trading on Tuesday . The company traded as low as $8.38 and last traded at $8.37. 2,140,917 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 2,300,761 shares. The stock had previously closed at $8.83.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup upgraded shares of Ecopetrol from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $9.00 to $14.00 in a research report on Tuesday, February 18th. StockNews.com downgraded Ecopetrol from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. raised Ecopetrol from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $7.50 to $9.50 in a research note 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $11.00.

Ecopetrol Trading Up 7.0 %

The business's 50 day simple moving average is $9.84 and its two-hundred day simple moving average is $8.79. The stock has a market cap of $18.10 billion, a P/E ratio of 4.21 and a beta of 0.86. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00.

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Ecopetrol Cuts Dividend

The company 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 dividend of $0.5202 per share. The ex-dividend date is Monday, April 28th. This represents a yield of 34.2%. Ecopetrol's dividend payout ratio is currently 79.90%.

Institutional Trading of Ecopetrol

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Ecopetrol by 1,639.4% in the first quarter. GAMMA Investing LLC now owns 272,620 shares of the oil and gas company's stock valued at $26,113,000 after buying an additional 256,947 shares during the period. Wealthedge Investment Advisors LLC acquired a new position in Ecopetrol in the 4th quarter valued at approximately $397,000. Public Employees Retirement System of Ohio bought a new position in shares of Ecopetrol during the fourth quarter valued at $97,000. Vident Advisory LLC lifted its holdings in shares of Ecopetrol by 57.2% during the fourth quarter. Vident Advisory LLC now owns 21,641 shares of the oil and gas company's stock worth $171,000 after purchasing an additional 7,875 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Ecopetrol in the fourth quarter worth $1,441,000.

About Ecopetrol

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.