Zacks: Brokerages Expect Ecopetrol S.A. (EC) Will Announce Quarterly Sales of $4.64 Billion
Wall Street analysts expect that Ecopetrol S.A. (NYSE:EC) will post sales of $4.64 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ecopetrol’s earnings, with the highest sales estimate coming in at $4.76 billion and the lowest estimate coming in at $4.52 billion. The company is expected to issue its next earnings report on Friday, November 24th.
According to Zacks, analysts expect that Ecopetrol will report full-year sales of $4.64 billion for the current fiscal year, with estimates ranging from $18.11 billion to $19.28 billion. For the next year, analysts anticipate that the business will post sales of $20.67 billion per share, with estimates ranging from $17.53 billion to $25.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Ecopetrol.
Several research analysts recently weighed in on the stock. TheStreet upgraded shares of Ecopetrol from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. Morgan Stanley cut shares of 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 research report on Wednesday, May 31st. BidaskClub upgraded shares of Ecopetrol from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. ValuEngine upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.25.
Ecopetrol (NYSE EC) opened at 9.35 on Thursday. Ecopetrol has a 52 week low of $7.65 and a 52 week high of $10.36. The company has a market capitalization of $19.22 billion, a price-to-earnings ratio of 16.12 and a beta of 1.04. The firm’s 50-day moving average price is $9.22 and its 200-day moving average price is $9.22.
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Several hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP grew its holdings in shares of Ecopetrol by 101.3% in the 2nd quarter. Susquehanna International Group LLP now owns 245,042 shares of the oil and gas company’s stock valued at $2,227,000 after buying an additional 123,300 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Ecopetrol by 126.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 19,569 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 10,919 shares during the period. Frontier Wealth Management LLC acquired a new position in shares of Ecopetrol in the 2nd quarter valued at $137,000. Bayesian Capital Management LP acquired a new position in shares of Ecopetrol in the 2nd quarter valued at $133,000. Finally, Numeric Investors LLC grew its holdings in shares of Ecopetrol by 5.1% in the 2nd quarter. Numeric Investors LLC now owns 920,039 shares of the oil and gas company’s stock valued at $8,363,000 after buying an additional 45,000 shares during the period. 2.11% of the stock is owned by institutional investors.
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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