Ecopetrol SA (NYSE:EC) Expected to Announce Quarterly Sales of $5.50 Billion

Equities research analysts expect Ecopetrol SA (NYSE:EC) to announce sales of $5.50 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ecopetrol’s earnings, with the highest sales estimate coming in at $5.66 billion and the lowest estimate coming in at $5.35 billion. Ecopetrol posted sales of $5.95 billion in the same quarter last year, which suggests a negative year over year growth rate of 7.6%. The company is expected to announce its next earnings report after the market closes on Monday, August 12th.

According to Zacks, analysts expect that Ecopetrol will report full year sales of $22.16 billion for the current financial year, with estimates ranging from $21.72 billion to $22.56 billion. For the next year, analysts expect that the company will post sales of $24.97 billion, with estimates ranging from $21.50 billion to $30.56 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Ecopetrol.

Separately, Citigroup upgraded shares of Ecopetrol from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Ecopetrol currently has an average rating of “Hold” and an average price target of $23.33.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. grew its stake in shares of Ecopetrol by 2.5% during the first quarter. Wetherby Asset Management Inc. now owns 22,906 shares of the oil and gas company’s stock worth $491,000 after acquiring an additional 562 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Ecopetrol by 116.6% in the first quarter. Lindbrook Capital LLC now owns 1,315 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 708 shares during the period. Cadence Capital Management LLC lifted its holdings in Ecopetrol by 6.5% in the second quarter. Cadence Capital Management LLC now owns 12,638 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 768 shares during the period. Bank of Montreal Can lifted its holdings in Ecopetrol by 4.2% in the first quarter. Bank of Montreal Can now owns 63,981 shares of the oil and gas company’s stock valued at $1,372,000 after acquiring an additional 2,572 shares during the period. Finally, US Bancorp DE lifted its holdings in Ecopetrol by 53.5% in the second quarter. US Bancorp DE now owns 7,452 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 2,598 shares during the period. Hedge funds and other institutional investors own 2.65% of the company’s stock.

Shares of NYSE:EC traded down $0.40 during midday trading on Friday, reaching $15.85. The company’s stock had a trading volume of 69,939 shares, compared to its average volume of 579,721. The firm has a 50 day moving average of $17.80 and a 200-day moving average of $18.94. The firm has a market capitalization of $33.03 billion, a P/E ratio of 9.11, a PEG ratio of 0.47 and a beta of 1.53. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.59. Ecopetrol has a 12-month low of $15.25 and a 12-month high of $27.96.

About Ecopetrol

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

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