Ecopetrol S.A. Announces Annual Dividend of $0.09 (NYSE:EC)


Share on StockTwits

Ecopetrol S.A. (NYSE:EC) announced an annual dividend on Wednesday, April 7th, Wall Street Journal reports. Investors of record on Wednesday, April 21st will be paid a dividend of 0.0932 per share by the oil and gas company on Thursday, April 29th. This represents a yield of 6.3%. The ex-dividend date is Tuesday, April 20th.

Ecopetrol has a dividend payout ratio of 7.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ecopetrol to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 9.6%.

Ecopetrol stock traded up $0.14 during mid-day trading on Wednesday, hitting $12.74. 856,653 shares of the company’s stock were exchanged, compared to its average volume of 1,189,679. The firm has a market capitalization of $26.19 billion, a P/E ratio of 16.18 and a beta of 1.86. Ecopetrol has a fifty-two week low of $8.50 and a fifty-two week high of $14.47. The company has a quick ratio of 1.00, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The company’s 50 day simple moving average is $12.87 and its 200-day simple moving average is $12.01.

Several analysts have issued reports on the company. Bank of America raised Ecopetrol from an “underperform” rating to a “buy” rating in a research note on Monday, March 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Ecopetrol from $13.00 to $14.70 in a research note on Friday, December 11th. Zacks Investment Research raised Ecopetrol from a “hold” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, March 30th. Smith Barney Citigroup lifted their price target on Ecopetrol from $13.00 to $14.70 in a research note on Friday, December 11th. Finally, UBS Group downgraded Ecopetrol from a “buy” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $15.00 in a research note on Wednesday, January 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Ecopetrol currently has an average rating of “Buy” and an average price target of $14.08.

About Ecopetrol

Ecopetrol SA operates as an integrated oil and gas company. The company operates through Exploration and Production; Transport and Logistics; and Refining, Petrochemical and Biofuels segments. It engages in the exploration, production, and sale of oil and gas. It also transports and distributes hydrocarbons and derivative products.

See Also: What can cause a stock to outperform?

Dividend History for Ecopetrol (NYSE:EC)

Receive News & Ratings for Ecopetrol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol and related companies with MarketBeat.com's FREE daily email newsletter.