Ecopetrol S.A. (NYSE:EC) Receives $11.27 Average Target Price from Analysts

Ecopetrol S.A. (NYSE:EC) has earned a consensus recommendation of “Reduce” from the six ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.27.

Several research analysts have recently weighed in on the company. Morgan Stanley cut Ecopetrol from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $11.00 to $8.50 in a research note 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 report on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their target price on shares of Ecopetrol from $10.30 to $11.90 and gave the company a “neutral” rating in a report on Thursday, April 18th.

Ecopetrol Stock Up 0.3 %

NYSE EC opened at $11.65 on Friday. The stock’s 50 day moving average is $11.44 and its 200 day moving average is $11.87. Ecopetrol has a twelve month low of $8.88 and a twelve month high of $13.14. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.58.

Ecopetrol (NYSE:EC) last announced its earnings results on Thursday, April 18th. The oil and gas company reported $0.74 earnings per share for the quarter. Ecopetrol had a net margin of 14.77% and a return on equity of 10.84%. The business had revenue of $8.59 billion during the quarter. On average, equities analysts predict that Ecopetrol will post 2.54 earnings per share for the current fiscal year.

Ecopetrol Cuts Dividend

The company also recently announced a — dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Tuesday, June 25th will be paid a dividend of $0.7999 per share. This represents a dividend yield of 19.5%. The ex-dividend date of this dividend is Tuesday, June 25th. Ecopetrol’s payout ratio is currently 92.44%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in Ecopetrol during the 4th quarter valued at about $85,000. QRG Capital Management Inc. acquired a new stake in Ecopetrol during the third quarter worth about $131,000. Avantax Advisory Services Inc. acquired a new position in Ecopetrol in the 3rd quarter valued at about $158,000. Confluence Investment Management LLC purchased a new stake in shares of Ecopetrol in the 1st quarter valued at approximately $182,000. Finally, Anfield Capital Management LLC acquired a new stake in shares of Ecopetrol during the 3rd quarter worth approximately $185,000.

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.