Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Ecopetrol SA (NYSE:EC) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,500 shares of the oil and gas company’s stock after selling 22,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ecopetrol were worth $2,186,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of EC. Manning & Napier Group LLC grew its holdings in shares of Ecopetrol by 3.3% in the 4th quarter. Manning & Napier Group LLC now owns 175,702 shares of the oil and gas company’s stock worth $3,507,000 after acquiring an additional 5,534 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of Ecopetrol by 3.9% in the 3rd quarter. Wetherby Asset Management Inc. now owns 24,025 shares of the oil and gas company’s stock worth $409,000 after acquiring an additional 901 shares during the period. State Street Corp grew its holdings in Ecopetrol by 15.0% during the 3rd quarter. State Street Corp now owns 1,870,498 shares of the oil and gas company’s stock valued at $31,855,000 after buying an additional 243,291 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Ecopetrol by 5.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 37,130 shares of the oil and gas company’s stock valued at $632,000 after buying an additional 2,073 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in Ecopetrol by 6.7% during the 3rd quarter. Stifel Financial Corp now owns 24,981 shares of the oil and gas company’s stock valued at $420,000 after buying an additional 1,576 shares during the last quarter. 2.57% of the stock is owned by institutional investors and hedge funds.

Shares of EC traded up $0.12 during trading hours on Tuesday, hitting $18.88. The stock had a trading volume of 24,332 shares, compared to its average volume of 439,172. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.36. The firm has a market cap of $38.87 billion, a P/E ratio of 10.49 and a beta of 1.66. The company’s fifty day simple moving average is $20.12 and its 200 day simple moving average is $18.19. Ecopetrol SA has a 12-month low of $15.21 and a 12-month high of $23.24.

The company also recently announced a dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 27th were given a $0.486 dividend. The ex-dividend date of this dividend was Thursday, December 26th. Ecopetrol’s dividend payout ratio (DPR) is currently 55.17%.

A number of equities research analysts have commented on EC shares. Zacks Investment Research upgraded Ecopetrol from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a report on Tuesday, December 31st. Citigroup cut Ecopetrol from a “buy” rating to a “neutral” rating and set a $19.80 price objective on the stock. in a report on Friday, November 1st. Goldman Sachs Group started coverage on Ecopetrol in a report on Tuesday, December 17th. They set a “sell” rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded Ecopetrol from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $24.00 in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Ecopetrol currently has a consensus rating of “Hold” and an average price target of $21.06.

Ecopetrol Company Profile

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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Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

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