Ecopetrol Target of Unusually Large Options Trading (NYSE:EC)

Ecopetrol S.A. (NYSE:EC) was the target of some unusual options trading on Tuesday. Stock traders acquired 18,383 call options on the stock. This is an increase of 353% compared to the average volume of 4,058 call options.

Ecopetrol Stock Up 0.7%

Ecopetrol stock traded up $0.12 during midday trading on Tuesday, hitting $15.81. 2,198,335 shares of the company were exchanged, compared to its average volume of 3,266,210. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.55 and a quick ratio of 1.30. Ecopetrol has a fifty-two week low of $8.27 and a fifty-two week high of $16.81. The company’s fifty day moving average price is $14.32 and its 200-day moving average price is $12.71. The company has a market cap of $32.49 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46.

Ecopetrol (NYSE:EC) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter. Ecopetrol had a return on equity of 12.39% and a net margin of 8.70%. On average, research analysts predict that Ecopetrol will post 2.44 EPS for the current fiscal year.

Ecopetrol Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, May 7th. Shareholders of record on Wednesday, April 29th were issued a dividend of $0.6612 per share. The ex-dividend date was Wednesday, April 29th. This represents a yield of 481.0%. Ecopetrol’s payout ratio is currently 54.62%.

Analyst Ratings Changes

Several research firms have recently weighed in on EC. Citigroup lowered Ecopetrol from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $18.00 in a research note on Wednesday, June 3rd. Wall Street Zen raised Ecopetrol from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. boosted their price target on Ecopetrol from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, June 1st. UBS Group boosted their price target on Ecopetrol from $13.50 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, HSBC raised Ecopetrol to a “hold” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.14.

Institutional Investors Weigh In On Ecopetrol

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Liontrust Investment Partners LLP purchased a new stake in Ecopetrol during the 1st quarter worth approximately $839,000. Bank of America Corp DE increased its holdings in Ecopetrol by 41.1% during the 1st quarter. Bank of America Corp DE now owns 64,897 shares of the oil and gas company’s stock worth $973,000 after purchasing an additional 18,895 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Ecopetrol during the 1st quarter worth approximately $3,583,000. Public Employees Retirement System of Ohio purchased a new stake in Ecopetrol during the 1st quarter worth approximately $1,948,000. Finally, Compound Planning Inc. purchased a new stake in Ecopetrol during the 1st quarter worth approximately $665,000.

Ecopetrol Company Profile

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.