Two Sigma Advisers LP Decreases Stake in Ecopetrol S.A. (NYSE:EC)

Two Sigma Advisers LP reduced its stake in Ecopetrol S.A. (NYSE:EC - Free Report) by 67.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,300 shares of the oil and gas company's stock after selling 31,000 shares during the quarter. Two Sigma Advisers LP's holdings in Ecopetrol were worth $121,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in Ecopetrol in the 4th quarter worth about $13,760,000. Millennium Management LLC bought a new position in Ecopetrol in the 4th quarter worth about $3,019,000. Charles Schwab Investment Management Inc. boosted its stake in Ecopetrol by 63.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,412 shares of the oil and gas company's stock worth $5,516,000 after purchasing an additional 271,296 shares during the period. SBI Securities Co. Ltd. bought a new position in Ecopetrol in the 4th quarter worth about $2,060,000. Finally, Marshall Wace LLP boosted its stake in Ecopetrol by 172.3% in the 4th quarter. Marshall Wace LLP now owns 370,555 shares of the oil and gas company's stock worth $2,935,000 after purchasing an additional 234,459 shares during the period.

Ecopetrol Price Performance

NYSE:EC traded up $0.28 during mid-day trading on Wednesday, reaching $9.30. The stock had a trading volume of 2,277,840 shares, compared to its average volume of 2,440,254. The firm has a 50 day moving average price of $8.61 and a two-hundred day moving average price of $8.91. The stock has a market capitalization of $19.11 billion, a P/E ratio of 4.45 and a beta of 0.82. Ecopetrol S.A. has a one year low of $7.21 and a one year high of $12.67. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.68.

Ecopetrol Cuts Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, May 6th. Shareholders of record on Monday, April 28th were paid a $0.5202 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a yield of 34.2%. Ecopetrol's dividend payout ratio (DPR) is currently 90.96%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EC. Wall Street Zen downgraded Ecopetrol from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Citigroup upgraded Ecopetrol from a "neutral" rating to a "buy" rating and lifted their price target for the company from $9.00 to $14.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upgraded Ecopetrol from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $7.50 to $9.50 in a research report on Thursday, February 13th.

About Ecopetrol

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.