Ecopetrol SA (EC) Position Trimmed by Connor Clark & Lunn Investment Management Ltd.
Connor Clark & Lunn Investment Management Ltd. lowered its position in Ecopetrol SA (NYSE:EC) by 69.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 373,573 shares of the oil and gas company’s stock after selling 844,447 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ecopetrol were worth $8,009,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Boston Partners purchased a new position in shares of Ecopetrol in the first quarter worth $5,118,000. Advisors Preferred LLC purchased a new position in shares of Ecopetrol in the first quarter worth $110,000. SG Americas Securities LLC purchased a new position in shares of Ecopetrol in the first quarter worth $958,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ecopetrol by 16.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,288 shares of the oil and gas company’s stock worth $2,686,000 after buying an additional 18,000 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Ecopetrol by 4.2% in the first quarter. Bank of Montreal Can now owns 63,981 shares of the oil and gas company’s stock worth $1,372,000 after buying an additional 2,572 shares during the last quarter.
Shares of Ecopetrol stock opened at $17.87 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 0.92. Ecopetrol SA has a 1 year low of $15.25 and a 1 year high of $27.96. The firm has a market cap of $36.74 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 0.49 and a beta of 1.51.
The firm also recently announced a special dividend, which was paid on Friday, May 3rd. Investors of record on Wednesday, April 24th were issued a dividend of $0.3595 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a dividend yield of 2.95%. Ecopetrol’s dividend payout ratio (DPR) is presently 55.17%.
EC has been the subject of a number of research analyst reports. ValuEngine raised shares of Ecopetrol from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Citigroup raised shares of Ecopetrol from a “neutral” rating to a “buy” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. raised shares of Ecopetrol from an “underweight” rating to a “neutral” rating and set a $20.00 price target for the company in a report on Friday, April 5th. Santander raised shares of Ecopetrol from an “underperform” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Zacks Investment Research raised shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Ecopetrol currently has an average rating of “Hold” and an average target price of $23.33.
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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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