Ecopetrol S.A. (EC) to Issue — Dividend of $0.83 on April 10th

Ecopetrol S.A. (NYSE:ECGet Free Report) declared a — dividend on Tuesday, March 26th, Wall Street Journal reports. Stockholders of record on Friday, April 5th will be paid a dividend of 0.8254 per share by the oil and gas company on Wednesday, April 10th. This represents a dividend yield of 20.4%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Ecopetrol’s previous — dividend of $0.15.

Ecopetrol has increased its dividend by an average of 19.4% annually over the last three years. Ecopetrol has a payout ratio of 160.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ecopetrol to earn $2.34 per share next year, which means the company may not be able to cover its $3.30 annual dividend with an expected future payout ratio of 141.0%.

Ecopetrol Stock Up 2.2 %

EC opened at $12.11 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.47. Ecopetrol has a 1 year low of $8.59 and a 1 year high of $13.14. The stock’s 50 day simple moving average is $11.48 and its 200 day simple moving average is $11.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Ecopetrol by 45.5% during the 2nd quarter. BlackRock Inc. now owns 7,161,233 shares of the oil and gas company’s stock valued at $73,403,000 after acquiring an additional 2,239,289 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ecopetrol by 5.5% during the third quarter. Vanguard Group Inc. now owns 2,984,353 shares of the oil and gas company’s stock valued at $26,650,000 after purchasing an additional 156,689 shares during the last quarter. Millennium Management LLC grew its stake in shares of Ecopetrol by 215.8% in the 4th quarter. Millennium Management LLC now owns 2,381,687 shares of the oil and gas company’s stock worth $24,936,000 after buying an additional 1,627,411 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ecopetrol by 85.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,518,254 shares of the oil and gas company’s stock worth $17,581,000 after buying an additional 701,706 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Ecopetrol by 15.9% during the first quarter. First Trust Advisors LP now owns 1,191,245 shares of the oil and gas company’s stock valued at $12,580,000 after buying an additional 163,029 shares during the last quarter.

Wall Street Analyst Weigh In

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

Read Our Latest Analysis on Ecopetrol

Ecopetrol Company Profile

(Get Free Report)

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.

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Dividend History for Ecopetrol (NYSE:EC)

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