Ecopetrol SA (NYSE:EC) Expected to Post Quarterly Sales of $5.75 Billion

Analysts expect Ecopetrol SA (NYSE:EC) to report sales of $5.75 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ecopetrol’s earnings, with the highest sales estimate coming in at $5.77 billion and the lowest estimate coming in at $5.72 billion. Ecopetrol reported sales of $6.04 billion in the same quarter last year, which indicates a negative year over year growth rate of 4.8%. The firm is expected to issue its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Ecopetrol will report full year sales of $22.16 billion for the current fiscal year, with estimates ranging from $21.72 billion to $22.56 billion. For the next year, analysts anticipate that the firm will report sales of $24.97 billion, with estimates ranging from $21.50 billion to $30.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Ecopetrol.

EC has been the topic of several research analyst reports. HSBC upgraded Ecopetrol from a “hold” rating to a “buy” rating and dropped their price target for the company from $21.00 to $20.50 in a research note on Thursday, September 12th. Citigroup set a $19.80 price target on Ecopetrol and gave the company a “buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Ecopetrol presently has a consensus rating of “Hold” and an average target price of $22.33.

Institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new stake in Ecopetrol during the 2nd quarter valued at about $48,000. Belpointe Asset Management LLC purchased a new stake in shares of Ecopetrol in the first quarter worth about $109,000. Royal Bank of Canada boosted its stake in shares of Ecopetrol by 280.0% in the second quarter. Royal Bank of Canada now owns 6,786 shares of the oil and gas company’s stock worth $125,000 after buying an additional 5,000 shares during the last quarter. US Bancorp DE boosted its stake in shares of Ecopetrol by 53.5% in the second quarter. US Bancorp DE now owns 7,452 shares of the oil and gas company’s stock worth $136,000 after buying an additional 2,598 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Ecopetrol by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 9,603 shares of the oil and gas company’s stock worth $175,000 after buying an additional 5,328 shares during the last quarter. Institutional investors and hedge funds own 2.63% of the company’s stock.

Ecopetrol stock traded up $0.05 during trading hours on Wednesday, hitting $17.02. 535,276 shares of the stock traded hands, compared to its average volume of 757,869. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.26 and a quick ratio of 0.96. The firm’s 50 day moving average price is $16.59 and its 200-day moving average price is $18.28. The stock has a market capitalization of $34.99 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 0.49 and a beta of 1.56. Ecopetrol has a 1 year low of $15.21 and a 1 year high of $27.02.

Ecopetrol Company Profile

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.

Featured Article: How is Preferred Stock Different from Common Stock?

Get a free copy of the Zacks research report on Ecopetrol (EC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ecopetrol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol and related companies with MarketBeat.com's FREE daily email newsletter.