Zacks: Brokerages Anticipate Ecopetrol SA (EC) Will Post Quarterly Sales of $5.23 Billion

Wall Street analysts expect Ecopetrol SA (NYSE:EC) to report sales of $5.23 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ecopetrol’s earnings. The highest sales estimate is $5.51 billion and the lowest is $4.95 billion. Ecopetrol reported sales of $4.39 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 19.1%. The firm is expected to report its next earnings results on Friday, March 2nd.

On average, analysts expect that Ecopetrol will report full year sales of $5.23 billion for the current fiscal year, with estimates ranging from $18.23 billion to $19.06 billion. For the next year, analysts anticipate that the firm will report sales of $21.35 billion per share, with estimates ranging from $17.57 billion to $27.76 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Ecopetrol.

Several research firms recently weighed in on EC. TheStreet upgraded shares of Ecopetrol from a “c+” rating to a “b-” rating in a research note on Wednesday, January 24th. Citigroup cut shares of Ecopetrol from a “neutral” rating to a “sell” rating in a research note on Monday. UBS Group cut shares of Ecopetrol from a “neutral” rating to a “sell” rating in a research note on Thursday, January 11th. Raymond James Financial restated an “underperform” rating on shares of Ecopetrol in a research note on Tuesday, November 28th. Finally, Zacks Investment Research upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, January 30th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.40.

Shares of Ecopetrol (EC) opened at $17.37 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.37 and a quick ratio of 1.07. Ecopetrol has a one year low of $8.44 and a one year high of $20.55. The firm has a market cap of $38,259.09, a PE ratio of 42.29, a P/E/G ratio of 0.30 and a beta of 1.36.

Institutional investors and hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Ecopetrol by 7.8% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,437,088 shares of the oil and gas company’s stock worth $80,068,000 after buying an additional 608,262 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Ecopetrol by 1,416.9% during the fourth quarter. Acadian Asset Management LLC now owns 3,876,861 shares of the oil and gas company’s stock worth $56,718,000 after buying an additional 3,621,279 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Ecopetrol by 5.6% during the second quarter. Vanguard Group Inc. now owns 3,319,861 shares of the oil and gas company’s stock worth $30,178,000 after buying an additional 175,934 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of Ecopetrol by 27.1% during the fourth quarter. APG Asset Management N.V. now owns 1,566,663 shares of the oil and gas company’s stock worth $19,088,000 after buying an additional 333,900 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Ecopetrol by 6.0% during the third quarter. Legal & General Group Plc now owns 1,102,311 shares of the oil and gas company’s stock worth $10,466,000 after buying an additional 62,400 shares in the last quarter. Hedge funds and other institutional investors own 2.24% of the company’s stock.

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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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