Two Sigma Investments LP Purchases New Position in Ecopetrol S.A. (NYSE:EC)

Two Sigma Investments LP purchased a new stake in Ecopetrol S.A. (NYSE:EC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 181,956 shares of the oil and gas company’s stock, valued at approximately $1,441,000.

Several other large investors have also added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. bought a new position in shares of Ecopetrol during the 4th quarter worth approximately $790,000. Charles Schwab Investment Management Inc. lifted its position in shares of Ecopetrol by 63.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,412 shares of the oil and gas company’s stock worth $5,516,000 after buying an additional 271,296 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Ecopetrol during the 4th quarter worth approximately $2,060,000. JPMorgan Chase & Co. lifted its position in shares of Ecopetrol by 22.9% during the 4th quarter. JPMorgan Chase & Co. now owns 850,753 shares of the oil and gas company’s stock worth $6,738,000 after buying an additional 158,585 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Ecopetrol by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 3,147,859 shares of the oil and gas company’s stock worth $24,931,000 after buying an additional 96,909 shares in the last quarter.

Ecopetrol Trading Up 1.9%

Shares of EC stock opened at $8.67 on Wednesday. The company has a 50 day moving average of $8.75 and a 200-day moving average of $8.88. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00. Ecopetrol S.A. has a 12-month low of $7.21 and a 12-month high of $12.67. The firm has a market cap of $17.81 billion, a P/E ratio of 4.15 and a beta of 0.82.

Ecopetrol Cuts Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Monday, April 28th were paid a dividend of $0.5202 per share. The ex-dividend date was Monday, April 28th. This represents a dividend yield of 34.2%. Ecopetrol’s payout ratio is currently 90.96%.

Analyst Ratings Changes

Several research firms have commented on EC. Wall Street Zen cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Citigroup upgraded shares of Ecopetrol from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $14.00 in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upgraded shares of Ecopetrol from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $7.50 to $9.50 in a research note on Thursday, February 13th.

Ecopetrol 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.