Equities analysts expect Ecopetrol S.A. (NYSE:EC) to post sales of $4.82 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Ecopetrol’s earnings. The lowest sales estimate is $4.56 billion and the highest is $5.08 billion. The business is expected to report its next earnings results on Tuesday, August 22nd.
According to Zacks, analysts expect that Ecopetrol will report full-year sales of $4.82 billion for the current financial year, with estimates ranging from $18.33 billion to $21.85 billion. For the next year, analysts anticipate that the business will report sales of $20.96 billion per share, with estimates ranging from $17.94 billion to $25.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Ecopetrol.
Several equities research analysts have weighed in on EC shares. Morgan Stanley cut Ecopetrol from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $9.40 to $8.00 in a report on Wednesday, May 31st. HSBC Holdings plc raised Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Monday, June 5th. Zacks Investment Research lowered Ecopetrol from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 25th. BidaskClub lowered Ecopetrol from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Finally, TheStreet raised Ecopetrol from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EC. Comerica Bank boosted its position in Ecopetrol by 12.7% in the fourth quarter. Comerica Bank now owns 116,533 shares of the oil and gas company’s stock worth $1,101,000 after buying an additional 13,137 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Ecopetrol by 280.0% in the fourth quarter. Federated Investors Inc. PA now owns 15,200 shares of the oil and gas company’s stock worth $138,000 after buying an additional 11,200 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ecopetrol by 20.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,222 shares of the oil and gas company’s stock worth $119,000 after buying an additional 2,214 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Ecopetrol during the fourth quarter worth about $1,173,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Ecopetrol during the first quarter worth about $152,000. 2.24% of the stock is currently owned by hedge funds and other institutional investors.
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Ecopetrol (NYSE EC) traded up 1.359% during trading on Wednesday, hitting $9.325. The company had a trading volume of 460,522 shares. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 20.272 and a beta of 1.04. Ecopetrol has a 1-year low of $7.65 and a 1-year high of $10.36. The company’s 50 day moving average price is $9.09 and its 200-day moving average price is $9.28.
About Ecopetrol
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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