Zacks: Brokerages Expect Ecopetrol SA (EC) Will Announce Earnings of $0.23 Per Share

Wall Street analysts forecast that Ecopetrol SA (NYSE:EC) will report earnings of $0.23 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Ecopetrol’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.16. Ecopetrol posted earnings of $0.04 per share in the same quarter last year, which would suggest a positive year over year growth rate of 475%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, November 7th.

According to Zacks, analysts expect that Ecopetrol will report full year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.71 to $0.83. For the next financial year, analysts expect that the firm will post earnings of $1.20 per share, with EPS estimates ranging from $0.75 to $1.44. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Ecopetrol.

Several equities analysts recently commented on EC shares. BidaskClub raised shares of Ecopetrol from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. ValuEngine raised shares of Ecopetrol from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, October 10th. J P Morgan Chase & Co raised shares of Ecopetrol from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Wednesday, October 25th. Finally, lowered shares of Ecopetrol from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.20.

Ecopetrol (NYSE:EC) traded up $0.26 during trading on Friday, hitting $13.47. 660,252 shares of the stock traded hands, compared to its average volume of 1,034,523. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.37. The stock has a market cap of $27,450.00, a PE ratio of 29.77, a P/E/G ratio of 0.40 and a beta of 1.14. Ecopetrol has a 12-month low of $8.44 and a 12-month high of $13.49.

Institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its holdings in Ecopetrol by 20.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 235,147 shares of the oil and gas company’s stock worth $2,138,000 after acquiring an additional 39,680 shares during the last quarter. Mizuho Securities USA LLC bought a new stake in Ecopetrol in the 3rd quarter worth $563,000. Harding Loevner LP grew its holdings in Ecopetrol by 16.3% in the 2nd quarter. Harding Loevner LP now owns 1,064,010 shares of the oil and gas company’s stock worth $9,672,000 after acquiring an additional 149,300 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Ecopetrol by 444.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 388,982 shares of the oil and gas company’s stock worth $3,536,000 after acquiring an additional 317,578 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC grew its holdings in Ecopetrol by 5.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 472,279 shares of the oil and gas company’s stock worth $4,482,000 after acquiring an additional 22,798 shares during the last quarter. 2.05% of the stock is currently owned by institutional investors and hedge funds.

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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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