Quantbot Technologies LP Buys 144,446 Shares of Ecopetrol S.A. (NYSE:EC)

Quantbot Technologies LP increased its position in Ecopetrol S.A. (NYSE:EC) by 48,309.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,745 shares of the oil and gas company’s stock after purchasing an additional 144,446 shares during the period. Quantbot Technologies LP’s holdings in Ecopetrol were worth $1,146,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in shares of Ecopetrol by 317.5% in the 4th quarter. Lindbrook Capital LLC now owns 4,784 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 3,638 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Ecopetrol during the fourth quarter valued at $44,000. Blue Trust Inc. increased its holdings 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 worth $67,000 after buying an additional 2,128 shares in the last quarter. SG Americas Securities LLC purchased a new position in Ecopetrol in the 4th quarter worth about $86,000. Finally, Signaturefd LLC lifted its stake in Ecopetrol by 13.1% during the 4th quarter. Signaturefd LLC now owns 10,978 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 1,271 shares during the period.

Wall Street Analyst Weigh In

EC has been the subject of several research reports. JPMorgan Chase & Co. raised shares of Ecopetrol from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $7.50 to $9.50 in a report on Thursday, February 13th. Citigroup upgraded shares of Ecopetrol from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $14.00 in a research note on Tuesday, February 18th. Finally, StockNews.com downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $11.00.

Ecopetrol Stock Performance

Shares of NYSE EC opened at $10.31 on Wednesday. Ecopetrol S.A. has a 12-month low of $7.21 and a 12-month high of $12.90. The firm has a market capitalization of $21.20 billion, a price-to-earnings ratio of 4.93 and a beta of 1.22. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $9.66 and a 200 day moving average of $8.75.

Ecopetrol Increases Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.5202 per share. This is an increase from Ecopetrol’s previous — dividend of $0.49. The ex-dividend date is Thursday, April 3rd. This represents a dividend yield of 30%. Ecopetrol’s payout ratio is presently 91.87%.

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.