Bailard Inc. Takes Position in Ecopetrol (NYSE:EC)

Bailard Inc. acquired a new stake in Ecopetrol (NYSE:EC) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 158,700 shares of the oil and gas company’s stock, valued at approximately $3,068,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its position in Ecopetrol by 62.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,836 shares of the oil and gas company’s stock worth $290,000 after acquiring an additional 7,623 shares during the last quarter. Atria Investments LLC bought a new stake in Ecopetrol during the 1st quarter worth $317,000. First Trust Advisors LP bought a new stake in Ecopetrol during the 4th quarter worth $340,000. James Investment Research Inc. bought a new stake in Ecopetrol during the 4th quarter worth $358,000. Finally, Eqis Capital Management Inc. bought a new stake in Ecopetrol during the 4th quarter worth $393,000. 2.81% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on EC. ValuEngine upgraded Ecopetrol from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered Ecopetrol from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. TheStreet upgraded Ecopetrol from a “c+” rating to a “b-” rating in a research report on Wednesday, January 24th. HSBC lowered Ecopetrol from a “hold” rating to a “reduce” rating in a research report on Tuesday, January 23rd. Finally, Citigroup lowered Ecopetrol from a “neutral” rating to a “sell” rating in a research report on Monday, February 5th. Seven investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Ecopetrol has a consensus rating of “Hold” and a consensus price target of $13.00.

Ecopetrol opened at $21.84 on Friday, according to Marketbeat.com. Ecopetrol has a 12 month low of $22.49 and a 12 month high of $23.24. The stock has a market capitalization of $45.93 billion, a price-to-earnings ratio of 39.19 and a beta of 1.26. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.99 and a current ratio of 1.23.

The business also recently declared a special dividend, which was paid on Friday, April 27th. Shareholders of record on Wednesday, April 18th were given a $0.6374 dividend. The ex-dividend date was Tuesday, April 17th. This is a positive change from Ecopetrol’s previous special dividend of $0.16.

Ecopetrol Company Profile

Ecopetrol SA operates as an integrated oil and gas company. It operates through three segments: Exploration and Production; Refining, Petrochemical, and Biofuels; and Transport and Logistics. The company produces crude oil and gas; and engages in the extraction, collection, treatment, storage and pumping or compression of hydrocarbons.

Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

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