Envestnet Asset Management Inc. Sells 30,804 Shares of Ecopetrol S.A. (NYSE:EC)

Envestnet Asset Management Inc. lowered its position in shares of Ecopetrol S.A. (NYSE:EC) by 70.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,892 shares of the oil and gas company’s stock after selling 30,804 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ecopetrol were worth $102,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Ecopetrol by 317.5% in the 4th quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 3,638 shares during the period. Platinum Investment Management Ltd. bought a new position in Ecopetrol during the fourth quarter worth about $44,000. Blue Trust Inc. grew its stake in Ecopetrol by 33.5% in the fourth 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 period. SG Americas Securities LLC bought a new stake in shares of Ecopetrol in the fourth quarter worth about $86,000. Finally, Signaturefd LLC raised its position in shares of 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 purchasing an additional 1,271 shares during the period.

Ecopetrol Stock Performance

NYSE:EC opened at $8.11 on Friday. The stock has a 50 day simple moving average of $9.26 and a 200 day simple moving average of $8.78. The stock has a market cap of $16.66 billion, a P/E ratio of 3.88 and a beta of 0.82. Ecopetrol S.A. has a 1-year low of $7.21 and a 1-year high of $12.67. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00.

Ecopetrol Cuts Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Monday, April 28th were given a $0.5202 dividend. This represents a dividend yield of 34.2%. The ex-dividend date of this dividend was Monday, April 28th. Ecopetrol’s payout ratio is currently 72.25%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EC shares. JPMorgan Chase & Co. upgraded Ecopetrol from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $7.50 to $9.50 in a research report on Thursday, February 13th. Citigroup upgraded 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 report on Tuesday, February 18th. Finally, StockNews.com lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Ecopetrol presently has an average rating of “Hold” and a consensus price target of $11.00.

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.