Equities analysts expect Ecopetrol SA (NYSE:EC) to post $5.87 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ecopetrol’s earnings, with the highest sales estimate coming in at $6.00 billion and the lowest estimate coming in at $5.74 billion. Ecopetrol reported sales of $4.47 billion during the same quarter last year, which indicates a positive year over year growth rate of 31.3%. The company is expected to issue its next earnings results after the market closes on Tuesday, August 14th.
According to Zacks, analysts expect that Ecopetrol will report full year sales of $23.32 billion for the current financial year, with estimates ranging from $21.96 billion to $24.14 billion. For the next financial year, analysts anticipate that the firm will post sales of $23.45 billion per share, with estimates ranging from $21.61 billion to $24.74 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Ecopetrol.
Several research analysts have recently issued reports on EC shares. ValuEngine raised Ecopetrol from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Citigroup raised Ecopetrol from a “sell” rating to a “neutral” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. Finally, HSBC raised Ecopetrol from a “reduce” rating to a “hold” rating in a research note on Thursday, May 24th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. Ecopetrol presently has a consensus rating of “Hold” and an average price target of $16.00.
NYSE EC traded up $0.22 during trading on Tuesday, hitting $20.49. 695,464 shares of the company’s stock were exchanged, compared to its average volume of 1,464,748. The company has a current ratio of 1.23, a quick ratio of 0.99 and a debt-to-equity ratio of 0.75. The company has a market cap of $42.97 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.70 and a beta of 1.25. Ecopetrol has a fifty-two week low of $9.00 and a fifty-two week high of $23.34.
A number of hedge funds have recently made changes to their positions in EC. Stifel Financial Corp boosted its holdings in shares of Ecopetrol by 22.4% during the 1st quarter. Stifel Financial Corp now owns 12,531 shares of the oil and gas company’s stock worth $239,000 after buying an additional 2,297 shares in the last quarter. Atria Investments LLC boosted its holdings in shares of Ecopetrol by 32.3% during the 2nd quarter. Atria Investments LLC now owns 21,663 shares of the oil and gas company’s stock worth $445,000 after buying an additional 5,289 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Ecopetrol by 54.0% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 15,400 shares of the oil and gas company’s stock worth $316,000 after buying an additional 5,400 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Ecopetrol by 32.7% during 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 buying an additional 6,117 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Ecopetrol by 11.0% during 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 buying an additional 7,600 shares in the last quarter. Institutional investors and hedge funds own 3.13% of the company’s stock.
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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