Ecopetrol SA (EC) Expected to Post Earnings of $0.57 Per Share

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Wall Street brokerages expect Ecopetrol SA (NYSE:EC) to post earnings of $0.57 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Ecopetrol’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.49. Ecopetrol reported earnings per share of $0.22 in the same quarter last year, which indicates a positive year over year growth rate of 159.1%. The business is scheduled to announce its next earnings results after the market closes on Tuesday, August 14th.

On average, analysts expect that Ecopetrol will report full-year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $2.42. For the next financial year, analysts forecast that the company will post earnings of $2.15 per share, with EPS estimates ranging from $1.71 to $2.42. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ecopetrol.

A number of research analysts recently weighed in on EC shares. ValuEngine upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. HSBC upgraded shares of Ecopetrol from a “reduce” rating to a “hold” rating in a research report on Thursday, May 24th. Zacks Investment Research downgraded shares of Ecopetrol from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. Finally, Citigroup upgraded shares of Ecopetrol from a “sell” rating to a “neutral” rating in a research report on Thursday, August 2nd. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.00.

Ecopetrol stock traded up $0.22 during midday trading on Friday, reaching $20.90. 710,259 shares of the company traded hands, compared to its average volume of 873,340. The company has a market cap of $42.51 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25. Ecopetrol has a 12 month low of $9.00 and a 12 month high of $23.34. The company has a quick ratio of 0.99, a current ratio of 1.23 and a debt-to-equity ratio of 0.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EC. NewSquare Capital LLC bought a new stake in shares of Ecopetrol during the 2nd quarter valued at $177,000. BNP Paribas Arbitrage SA raised its position in shares of 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 valued at $177,000 after purchasing an additional 7,629 shares during the period. Banco de Sabadell S.A bought a new stake in shares of Ecopetrol during the 1st quarter valued at $184,000. Atlas Capital Advisors LLC raised its position in shares of 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 valued at $186,000 after purchasing an additional 8,261 shares during the period. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Ecopetrol during the 2nd quarter valued at $189,000. Institutional investors and hedge funds own 3.12% of the company’s stock.

Ecopetrol Company Profile

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.

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