Wall Street analysts expect Ecopetrol SA (NYSE:EC) to report $5.82 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Ecopetrol’s earnings, with the lowest sales estimate coming in at $5.22 billion and the highest estimate coming in at $6.43 billion. Ecopetrol posted sales of $5.15 billion in the same quarter last year, which would indicate a positive year over year growth rate of 13%. The business is scheduled to report its next quarterly earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Ecopetrol will report full year sales of $23.49 billion for the current fiscal year, with estimates ranging from $22.36 billion to $24.22 billion. For the next financial year, analysts anticipate that the business will report sales of $25.25 billion, with estimates ranging from $20.91 billion to $27.77 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Ecopetrol.
Ecopetrol (NYSE:EC) last released its earnings results on Tuesday, November 6th. The oil and gas company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). The company had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.89 billion. Ecopetrol had a net margin of 19.02% and a return on equity of 13.38%.
Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Ecopetrol from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Raymond James raised shares of Ecopetrol from an “underperform” rating to a “market perform” rating in a research note on Monday, October 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Ecopetrol has an average rating of “Hold” and an average price target of $20.50.
Ecopetrol stock opened at $19.59 on Friday. The stock has a market cap of $40.50 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 0.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.33. Ecopetrol has a 52 week low of $11.88 and a 52 week high of $27.96.
Several institutional investors and hedge funds have recently made changes to their positions in EC. Bank of Montreal Can grew its stake in shares of Ecopetrol by 11.0% in the 2nd quarter. Bank of Montreal Can now owns 76,562 shares of the oil and gas company’s stock worth $1,573,000 after purchasing an additional 7,600 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Ecopetrol by 770.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,619 shares of the oil and gas company’s stock worth $177,000 after purchasing an additional 7,629 shares during the last quarter. Aperio Group LLC grew its stake in shares of Ecopetrol by 5.8% in the 2nd quarter. Aperio Group LLC now owns 363,994 shares of the oil and gas company’s stock worth $7,480,000 after purchasing an additional 20,101 shares during the last quarter. State of Wisconsin Investment Board grew its stake in shares of Ecopetrol by 129.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 269,922 shares of the oil and gas company’s stock worth $5,547,000 after purchasing an additional 152,315 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Ecopetrol by 32.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 24,803 shares of the oil and gas company’s stock worth $510,000 after purchasing an additional 6,117 shares during the last quarter. 2.99% of the stock is currently owned by institutional investors.
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.
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