Ecopetrol S.A. (EC) Expected to Post Quarterly Sales of $4.52 Billion
Equities analysts forecast that Ecopetrol S.A. (NYSE:EC) will post sales of $4.52 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ecopetrol’s earnings. The lowest sales estimate is $4.47 billion and the highest is $4.58 billion. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, May 11th.
According to Zacks, analysts expect that Ecopetrol will report full year sales of $4.52 billion for the current fiscal year, with estimates ranging from $18.33 billion to $21.85 billion. For the next fiscal year, analysts expect that the firm will post sales of $20.96 billion per share, with estimates ranging from $17.94 billion to $25.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Ecopetrol.
EC has been the subject of several research reports. TheStreet raised shares of Ecopetrol from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. Zacks Investment Research lowered shares of Ecopetrol from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 25th. Morgan Stanley lowered shares of Ecopetrol from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $9.40 to $8.00 in a report on Wednesday, May 31st. HSBC Holdings plc raised shares of Ecopetrol from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Monday, June 5th. Finally, BidaskClub lowered shares of Ecopetrol from a “sell” rating to a “strong sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Ecopetrol has an average rating of “Hold” and an average target price of $10.19.
Shares of Ecopetrol (EC) traded up 0.23% during trading on Friday, hitting $8.87. 407,457 shares of the company were exchanged. The stock has a market cap of $18.24 billion, a P/E ratio of 17.74 and a beta of 1.00. The company’s 50-day moving average price is $9.41 and its 200 day moving average price is $9.28. Ecopetrol has a 12 month low of $7.65 and a 12 month high of $10.36.
Several hedge funds and other institutional investors have recently bought and sold shares of EC. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Ecopetrol by 500.0% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 12,000 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 10,000 shares during the period. Envestnet Asset Management Inc. raised its position in 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 valued at $119,000 after buying an additional 2,214 shares during the period. KCG Holdings Inc. acquired a new position in Ecopetrol during the first quarter valued at approximately $129,000. Federated Investors Inc. PA raised its position in 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 valued at $138,000 after buying an additional 11,200 shares during the period. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Ecopetrol during the first quarter valued at approximately $143,000. 2.24% of the stock is owned by institutional investors and hedge funds.
Ecopetrol Company Profile
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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