Ecopetrol SA (EC) Shares Sold by BlackRock Inc.
BlackRock Inc. lessened its position in shares of Ecopetrol SA (NYSE:EC) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,158,290 shares of the oil and gas company’s stock after selling 167,042 shares during the period. BlackRock Inc. owned about 0.06% of Ecopetrol worth $18,394,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position 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 purchasing an additional 3,113,191 shares during the period. Fisher Asset Management LLC raised its position 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 purchasing an additional 589,439 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ecopetrol by 1,014.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 180,828 shares of the oil and gas company’s stock worth $4,870,000 after purchasing an additional 164,602 shares during the period. Mackenzie Financial Corp raised its position in shares of Ecopetrol by 135.2% during the 4th quarter. Mackenzie Financial Corp now owns 254,000 shares of the oil and gas company’s stock worth $4,034,000 after purchasing an additional 146,000 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Ecopetrol during the 3rd quarter worth approximately $2,345,000.
EC opened at $20.56 on Tuesday. Ecopetrol SA has a 12 month low of $15.25 and a 12 month high of $27.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.33. The company has a market capitalization of $43.83 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.70 and a beta of 1.57.
The firm also recently announced a special dividend, which will be paid on Friday, May 3rd. Investors of record on Wednesday, April 24th will be given a $0.3595 dividend. This represents a yield of 2.95%. The ex-dividend date of this dividend is Tuesday, April 23rd. Ecopetrol’s dividend payout ratio is currently 35.06%.
EC has been the topic of a number of research reports. ValuEngine upgraded Ecopetrol from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Citigroup set a $21.00 price target on Ecopetrol and gave the stock a “hold” rating in a research report on Monday, December 17th. Santander upgraded Ecopetrol from an “underperform” rating to a “hold” rating in a research report on Wednesday, March 6th. Zacks Investment Research cut Ecopetrol from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 3rd. Finally, JPMorgan Chase & Co. upgraded Ecopetrol from an “underweight” rating to a “neutral” rating and set a $20.00 target price on the stock in a research report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $23.33.
Ecopetrol SA operates as an integrated oil and gas company. It operates through three segments: Exploration and Production; Refining, Petrochemical, and Biofuels; and Transport and Logistics. The company produces crude oil and gas; and engages in the extraction, collection, treatment, storage and pumping or compression of hydrocarbons.
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