ValuEngine Downgrades Ecopetrol (EC) to Sell

ValuEngine cut shares of Ecopetrol (NYSE:EC) from a hold rating to a sell rating in a research note issued to investors on Friday, ValuEngine reports.

Several other brokerages have also recently issued reports on EC. JPMorgan Chase & Co. raised shares of Ecopetrol from an underweight rating to a neutral rating and set a $20.00 target price on the stock in a research note on Friday, April 5th. Santander upgraded Ecopetrol from an underperform rating to a hold rating in a report on Wednesday, March 6th. Finally, Zacks Investment Research upgraded Ecopetrol from a strong sell rating to a hold rating in a report on Friday, February 15th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Ecopetrol currently has an average rating of Hold and a consensus target price of $23.33.

Shares of EC opened at $20.81 on Friday. Ecopetrol has a 52-week low of $15.25 and a 52-week high of $27.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.23 and a current ratio of 1.52.

Ecopetrol (NYSE:EC) last announced its earnings results on Friday, April 5th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter. Ecopetrol had a net margin of 16.70% and a return on equity of 10.61%. The company had revenue of $6.02 billion for the quarter. Equities analysts expect that Ecopetrol will post 1.77 earnings per share for the current fiscal year.

The business also recently declared a special dividend, which will be paid on Friday, May 3rd. Stockholders of record on Wednesday, April 24th will be issued a dividend of $0.3595 per share. The ex-dividend date is Tuesday, April 23rd. This represents a dividend yield of 2.95%. Ecopetrol’s dividend payout ratio is presently 35.06%.

Several hedge funds and other institutional investors have recently bought and sold shares of EC. Acadian Asset Management LLC raised its holdings in shares of Ecopetrol by 28.6% during the 4th quarter. Acadian Asset Management LLC now owns 14,015,881 shares of the oil and gas company’s stock worth $222,574,000 after acquiring an additional 3,113,191 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Ecopetrol by 33.9% during the 4th quarter. Fisher Asset Management LLC now owns 2,329,686 shares of the oil and gas company’s stock worth $36,995,000 after acquiring an additional 589,439 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Ecopetrol by 365.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 657,006 shares of the oil and gas company’s stock worth $10,433,000 after acquiring an additional 515,725 shares during the period. Millennium Management LLC raised its holdings in shares of Ecopetrol by 369.7% during the 4th quarter. Millennium Management LLC now owns 475,261 shares of the oil and gas company’s stock worth $7,547,000 after acquiring an additional 374,080 shares during the period. Finally, APG Asset Management N.V. raised its holdings in shares of Ecopetrol by 20.6% during the 4th quarter. APG Asset Management N.V. now owns 1,856,300 shares of the oil and gas company’s stock worth $25,787,000 after acquiring an additional 317,200 shares during the period.

About Ecopetrol

Ecopetrol SA operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical, and Biofuels. It produces crude oil and gas; and engages in the extraction, collection, treatment, storage, commercialization, and pumping.

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Analyst Recommendations for Ecopetrol (NYSE:EC)

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