Glenorchy Capital Ltd Invests $338,000 in Ecopetrol S.A. (NYSE:EC)

Glenorchy Capital Ltd acquired a new stake in shares of Ecopetrol S.A. (NYSE:EC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,366 shares of the oil and gas company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. increased its stake in shares of Ecopetrol by 20.4% during the 3rd quarter. Citigroup Inc. now owns 58,220 shares of the oil and gas company’s stock worth $674,000 after purchasing an additional 9,878 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Ecopetrol by 37.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 490,047 shares of the oil and gas company’s stock valued at $5,675,000 after buying an additional 134,531 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ecopetrol by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,086,272 shares of the oil and gas company’s stock worth $35,739,000 after buying an additional 29,731 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Ecopetrol during the 3rd quarter worth about $131,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Ecopetrol by 47.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 24,385 shares of the oil and gas company’s stock valued at $282,000 after acquiring an additional 7,800 shares during the last quarter.

Ecopetrol Stock Performance

Shares of NYSE EC traded up $0.15 during midday trading on Tuesday, reaching $11.72. 1,000,634 shares of the company traded hands, compared to its average volume of 2,000,300. The stock’s 50-day simple moving average is $11.47 and its 200-day simple moving average is $11.90. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. Ecopetrol S.A. has a 12 month low of $8.59 and a 12 month high of $13.14.

Ecopetrol Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Tuesday, June 25th will be paid a $0.7999 dividend. This represents a yield of 19.5%. The ex-dividend date of this dividend is Tuesday, June 25th. Ecopetrol’s dividend payout ratio is currently 94.42%.

Wall Street Analysts Forecast Growth

EC has been the subject of several recent analyst reports. Morgan Stanley downgraded shares of Ecopetrol from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $11.00 to $8.50 in a report on Monday, March 4th. JPMorgan Chase & Co. lowered their price target on Ecopetrol from $12.50 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group boosted their price objective on Ecopetrol from $10.30 to $11.90 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.27.

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.