Ecopetrol SA (EC) Expected to Announce Earnings of $0.64 Per Share

Wall Street analysts expect that Ecopetrol SA (NYSE:EC) will report earnings of $0.64 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Ecopetrol’s earnings. The lowest EPS estimate is $0.55 and the highest is $0.70. Ecopetrol reported earnings of $0.17 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 276.5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Ecopetrol will report full-year earnings of $2.08 per share for the current financial year, with EPS estimates ranging from $1.35 to $2.40. For the next financial year, analysts expect that the firm will post earnings of $2.24 per share, with EPS estimates ranging from $1.71 to $2.47. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Ecopetrol.

Ecopetrol (NYSE:EC) last announced its quarterly earnings results on Tuesday, August 14th. The oil and gas company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Ecopetrol had a net margin of 17.52% and a return on equity of 11.69%. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.99 billion.

EC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ecopetrol from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research report on Tuesday. Citigroup upgraded shares of Ecopetrol from a “sell” rating to a “neutral” rating in a research report on Thursday, August 2nd. Finally, ValuEngine cut shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Four equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $17.67.

Several hedge funds have recently made changes to their positions in the stock. NewSquare Capital LLC acquired a new position in Ecopetrol during the 2nd quarter worth approximately $177,000. BNP Paribas Arbitrage SA grew its holdings in Ecopetrol by 770.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,619 shares of the oil and gas company’s stock worth $177,000 after acquiring an additional 7,629 shares in the last quarter. Atlas Capital Advisors LLC grew its holdings in Ecopetrol by 1,097.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 9,014 shares of the oil and gas company’s stock worth $186,000 after acquiring an additional 8,261 shares in the last quarter. Cypress Capital Management LLC WY acquired a new position in Ecopetrol during the 2nd quarter worth approximately $189,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Ecopetrol during the 1st quarter worth approximately $193,000. Hedge funds and other institutional investors own 2.85% of the company’s stock.

Shares of EC traded up $0.24 during trading on Friday, reaching $25.59. 677,824 shares of the company traded hands, compared to its average volume of 1,386,339. Ecopetrol has a twelve month low of $9.81 and a twelve month high of $27.96. The stock has a market cap of $53.21 billion, a PE ratio of 23.48, a P/E/G ratio of 0.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.45 and a quick ratio of 1.15.

About Ecopetrol

Ecopetrol SA operates as an integrated oil and gas company. It operates through three segments: Exploration and Production; Refining, Petrochemical, and Biofuels; and Transport and Logistics. The company produces crude oil and gas; and engages in the extraction, collection, treatment, storage and pumping or compression of hydrocarbons.

See Also: Compound Annual Growth Rate (CAGR)

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