Analysts forecast that Ecopetrol SA (NYSE:EC) will announce $5.59 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ecopetrol’s earnings, with the lowest sales estimate coming in at $5.51 billion and the highest estimate coming in at $5.68 billion. Ecopetrol posted sales of $4.39 billion during the same quarter last year, which would indicate a positive year over year growth rate of 27.3%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that Ecopetrol will report full year sales of $5.59 billion for the current fiscal year, with estimates ranging from $18.71 billion to $19.23 billion. For the next year, analysts forecast that the company will post sales of $22.67 billion per share, with estimates ranging from $19.08 billion to $27.69 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Ecopetrol.
EC has been the subject of a number of recent research reports. TheStreet raised Ecopetrol from a “c+” rating to a “b-” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised Ecopetrol from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, January 30th. HSBC downgraded Ecopetrol from a “hold” rating to a “reduce” rating in a research note on Tuesday, January 23rd. Citigroup initiated coverage on Ecopetrol in a research note on Wednesday, December 6th. They set a “neutral” rating and a $12.00 price target for the company. Finally, JPMorgan Chase & Co. downgraded Ecopetrol from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $9.30 to $12.00 in a research note on Tuesday, February 20th. Seven investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.00.
Ecopetrol (NYSE EC) traded up $0.23 on Friday, hitting $18.11. The stock had a trading volume of 1,584,496 shares, compared to its average volume of 1,789,948. Ecopetrol has a 52 week low of $8.60 and a 52 week high of $20.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 1.11. The stock has a market cap of $36,326.61, a P/E ratio of 41.16, a PEG ratio of 0.27 and a beta of 1.35.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of 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 valued at $290,000 after acquiring an additional 7,623 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Ecopetrol by 265.1% during the 4th quarter. Two Sigma Advisers LP now owns 38,700 shares of the oil and gas company’s stock valued at $566,000 after acquiring an additional 28,100 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ecopetrol by 523.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,044,056 shares of the oil and gas company’s stock valued at $29,905,000 after acquiring an additional 1,716,135 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in shares of Ecopetrol during the 4th quarter valued at about $2,075,000. Finally, Scotia Capital Inc. acquired a new position in shares of Ecopetrol during the 4th quarter valued at about $1,105,000. 2.60% of the stock is currently owned by institutional investors and hedge funds.
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Ecopetrol SA is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad.
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