Ecopetrol S.A. (NYSE:EC) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Ecopetrol S.A. (NYSE:EC - Free Report) by 1,639.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,620 shares of the oil and gas company's stock after purchasing an additional 256,947 shares during the quarter. GAMMA Investing LLC's holdings in Ecopetrol were worth $26,113,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Ecopetrol in the fourth quarter valued at approximately $86,000. Blue Trust Inc. raised its position in Ecopetrol by 33.5% in the 4th quarter. Blue Trust Inc. now owns 8,480 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 2,128 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Ecopetrol during the 4th quarter worth $790,000. Ping Capital Management Inc. grew its position in Ecopetrol by 25.0% during the 4th quarter. Ping Capital Management Inc. now owns 60,000 shares of the oil and gas company's stock worth $475,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Ecopetrol in the fourth quarter valued at $179,000.

Ecopetrol Price Performance

Shares of EC traded up $0.31 during mid-day trading on Friday, reaching $9.00. 2,505,928 shares of the company's stock were exchanged, compared to its average volume of 2,429,870. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.00. Ecopetrol S.A. has a 52-week low of $7.21 and a 52-week high of $12.67. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 4.31 and a beta of 0.82. The company has a 50-day simple moving average of $8.69 and a two-hundred day simple moving average of $8.89.

Ecopetrol Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.