Straight Path Wealth Management Sells 18,400 Shares of Ecopetrol S.A. (NYSE:EC)

Straight Path Wealth Management lessened its holdings in Ecopetrol S.A. (NYSE:EC) by 57.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,600 shares of the oil and gas company’s stock after selling 18,400 shares during the quarter. Straight Path Wealth Management’s holdings in Ecopetrol were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Northern Trust Corp lifted its position in Ecopetrol by 0.5% during the first quarter. Northern Trust Corp now owns 198,961 shares of the oil and gas company’s stock worth $3,700,000 after purchasing an additional 1,044 shares during the period. UBS Group AG lifted its position in Ecopetrol by 11.1% during the first quarter. UBS Group AG now owns 10,610 shares of the oil and gas company’s stock worth $197,000 after purchasing an additional 1,058 shares during the period. Credit Suisse AG lifted its position in Ecopetrol by 10.8% during the second quarter. Credit Suisse AG now owns 11,308 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 1,105 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Ecopetrol by 15.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 17,219 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 2,321 shares during the period. Finally, Invesco Ltd. lifted its position in Ecopetrol by 1.6% during the third quarter. Invesco Ltd. now owns 161,098 shares of the oil and gas company’s stock worth $1,866,000 after purchasing an additional 2,504 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Ecopetrol from $12.00 to $10.30 and set a “neutral” rating for the company in a report on Thursday, March 21st. JPMorgan Chase & Co. dropped their target price on shares of Ecopetrol from $12.50 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Finally, Morgan Stanley cut shares of Ecopetrol from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $11.00 to $8.50 in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.00.

Ecopetrol Trading Down 6.0 %

Ecopetrol stock opened at $12.12 on Friday. The business has a 50 day moving average of $11.53 and a 200-day moving average of $11.90. Ecopetrol S.A. has a 1 year low of $8.59 and a 1 year high of $13.14. The company has a quick ratio of 1.24, a current ratio of 1.47 and a debt-to-equity ratio of 0.90.

Ecopetrol Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Tuesday, June 25th will be paid a $0.7999 dividend. This represents a dividend yield of 19.5%. The ex-dividend date of this dividend is Tuesday, June 25th. Ecopetrol’s dividend payout ratio is currently 106.44%.

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.