Ecopetrol S.A. (NYSE:EC) Receives $11.27 Consensus Target Price from Brokerages

Shares of Ecopetrol S.A. (NYSE:EC) have been assigned an average rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.27.

Several brokerages have issued reports on EC. Morgan Stanley cut Ecopetrol from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $11.00 to $8.50 in a research report on Monday, March 4th. JPMorgan Chase & Co. cut their target price on shares of Ecopetrol from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their price target on shares of Ecopetrol from $10.30 to $11.90 and gave the stock a “neutral” rating in a research report on Thursday, April 18th.

Ecopetrol Stock Down 0.0 %

EC opened at $11.74 on Friday. The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of 4.93 and a beta of 1.27. The firm has a 50 day moving average price of $11.44 and a 200-day moving average price of $11.87. Ecopetrol has a twelve month low of $8.90 and a twelve month high of $13.14. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.90.

Ecopetrol (NYSE:EC) last announced its earnings results on Thursday, April 18th. The oil and gas company reported $0.74 earnings per share for the quarter. The business had revenue of $8.59 billion during the quarter. Ecopetrol had a net margin of 14.77% and a return on equity of 10.84%. Equities research analysts forecast that Ecopetrol will post 2.54 earnings per share for the current year.

Ecopetrol Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Tuesday, June 25th will be paid a $0.7999 dividend. The ex-dividend date is Tuesday, June 25th. This represents a dividend yield of 19.5%. Ecopetrol’s dividend payout ratio (DPR) is presently 89.50%.

Hedge Funds Weigh In On Ecopetrol

Several large investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC grew its stake in Ecopetrol by 14.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,795 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 2,769 shares in the last quarter. Anfield Capital Management LLC increased its holdings in shares of Ecopetrol by 18.7% in the fourth quarter. Anfield Capital Management LLC now owns 18,949 shares of the oil and gas company’s stock worth $226,000 after purchasing an additional 2,982 shares during the last quarter. Toroso Investments LLC lifted its position in shares of Ecopetrol by 5.4% in the third quarter. Toroso Investments LLC now owns 80,994 shares of the oil and gas company’s stock worth $938,000 after buying an additional 4,160 shares in the last quarter. Private Advisor Group LLC boosted its stake in Ecopetrol by 18.6% during the first quarter. Private Advisor Group LLC now owns 31,872 shares of the oil and gas company’s stock valued at $377,000 after buying an additional 4,996 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Ecopetrol in the 4th quarter worth approximately $85,000.

Ecopetrol Company 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.