Brokerages Expect Ecopetrol S.A. (EC) Will Post Earnings of $0.22 Per Share
Analysts expect that Ecopetrol S.A. (NYSE:EC) will announce $0.22 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ecopetrol’s earnings, with estimates ranging from $0.12 to $0.27. Ecopetrol posted earnings per share of $0.13 in the same quarter last year, which would suggest a positive year-over-year growth rate of 69.2%. The business is expected to report its next earnings results before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Ecopetrol will report full year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.99. For the next year, analysts forecast that the company will post earnings of $1.15 per share, with EPS estimates ranging from $0.72 to $1.51. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Ecopetrol.
A number of brokerages have recently issued reports on EC. TheStreet raised Ecopetrol from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. Zacks Investment Research downgraded Ecopetrol from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 25th. Morgan Stanley downgraded Ecopetrol from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $9.40 to $8.00 in a research report on Wednesday, May 31st. BidaskClub raised Ecopetrol from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, ValuEngine raised Ecopetrol from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.25.
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Several large investors have recently made changes to their positions in EC. Fox Run Management L.L.C. bought a new stake in shares of Ecopetrol during the first quarter worth $152,000. Nationwide Fund Advisors raised its stake in shares of Ecopetrol by 145.7% in the first quarter. Nationwide Fund Advisors now owns 403,400 shares of the oil and gas company’s stock worth $3,760,000 after buying an additional 239,200 shares during the period. Acadian Asset Management LLC raised its stake in shares of Ecopetrol by 53.6% in the first quarter. Acadian Asset Management LLC now owns 468,837 shares of the oil and gas company’s stock worth $4,369,000 after buying an additional 163,561 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Ecopetrol by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 3,970,350 shares of the oil and gas company’s stock worth $37,003,000 after buying an additional 47,901 shares during the period. Finally, Wetherby Asset Management Inc. raised its stake in shares of Ecopetrol by 22.3% in the first quarter. Wetherby Asset Management Inc. now owns 18,268 shares of the oil and gas company’s stock worth $170,000 after buying an additional 3,327 shares during the period. 2.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ecopetrol (NYSE EC) traded down 0.86% during mid-day trading on Friday, reaching $9.27. The company’s stock had a trading volume of 597,219 shares. The firm has a market cap of $19.06 billion, a PE ratio of 19.31 and a beta of 1.05. The firm’s 50 day moving average is $9.07 and its 200 day moving average is $9.27. Ecopetrol has a one year low of $7.65 and a one year high of $10.36.
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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