Marshall Wace LLP Has $33.85 Million Stock Holdings in Ecopetrol S.A. (NYSE:EC)

Posted by on Jun 13th, 2023

Marshall Wace LLP increased its position in Ecopetrol S.A. (NYSE:EC – Get Rating) by 158.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,232,841 shares of the oil and gas company’s stock after buying an additional 1,983,223 shares during the quarter. Marshall Wace LLP owned 0.16% of Ecopetrol worth $33,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in Ecopetrol by 6.2% in the 3rd quarter. BlackRock Inc. now owns 5,145,205 shares of the oil and gas company’s stock valued at $45,948,000 after acquiring an additional 298,224 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Ecopetrol by 395.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,388,012 shares of the oil and gas company’s stock valued at $35,472,000 after purchasing an additional 2,704,109 shares during the period. Vanguard Group Inc. raised its position in Ecopetrol by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,984,353 shares of the oil and gas company’s stock worth $26,650,000 after purchasing an additional 156,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Ecopetrol by 1,909.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,471,384 shares of the oil and gas company’s stock worth $15,405,000 after buying an additional 1,398,149 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Ecopetrol by 23.1% in the 4th quarter. First Trust Advisors LP now owns 1,028,216 shares of the oil and gas company’s stock valued at $10,765,000 after buying an additional 192,785 shares during the last quarter. Institutional investors own 1.30% of the company’s stock.

Ecopetrol Price Performance

Shares of EC opened at $10.17 on Tuesday. The firm has a market cap of $20.91 billion, a PE ratio of 2.63 and a beta of 1.44. Ecopetrol S.A. has a 52-week low of $8.59 and a 52-week high of $15.93. The business’s 50 day moving average price is $10.00 and its two-hundred day moving average price is $10.33. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.00 and a current ratio of 1.14.

Ecopetrol (NYSE:EC – Get Rating) last released its earnings results on Wednesday, March 29th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.31 billion. Ecopetrol had a net margin of 19.92% and a return on equity of 15.81%. On average, equities analysts anticipate that Ecopetrol S.A. will post 2.24 EPS for the current year.

Ecopetrol Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, December 20th will be given a dividend of $0.1479 per share. The ex-dividend date is Tuesday, December 19th. This represents a dividend yield of 20.4%. Ecopetrol’s dividend payout ratio (DPR) is presently 53.23%.

Analysts Set New Price Targets

A number of research firms recently commented on EC. The Goldman Sachs Group cut their price objective on Ecopetrol from $12.40 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 15th. StockNews.com began coverage on shares of Ecopetrol in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.00.

Ecopetrol Profile

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Ecopetrol SA engages in the exploration, development, and production of crude oil and natural gas. It operates through the following segments: Exploration and Production, Transportation and Logistics, and Refining and Petrochemicals. The Exploration and Production segment deals with oil and gas exploration and production activities.

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Institutional Ownership by Quarter for Ecopetrol (NYSE:EC)

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