Ecopetrol SA (EC) Expected to Post Quarterly Sales of $5.72 Billion

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Wall Street brokerages expect Ecopetrol SA (NYSE:EC) to post sales of $5.72 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ecopetrol’s earnings, with the lowest sales estimate coming in at $5.01 billion and the highest estimate coming in at $6.43 billion. Ecopetrol reported sales of $5.15 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 11.1%. The company is scheduled to report its next quarterly earnings report on Thursday, February 28th.

On average, analysts expect that Ecopetrol will report full-year sales of $23.42 billion for the current financial year, with estimates ranging from $22.15 billion to $24.22 billion. For the next fiscal year, analysts forecast that the company will post sales of $24.82 billion, with estimates ranging from $19.63 billion to $27.77 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Ecopetrol.

Ecopetrol (NYSE:EC) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.06). The firm had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.89 billion. Ecopetrol had a net margin of 19.13% and a return on equity of 13.27%.

EC has been the topic of several research analyst reports. Raymond James upgraded shares of Ecopetrol from an “underperform” rating to a “market perform” rating in a research report on Monday, October 22nd. UBS Group upgraded shares of Ecopetrol from a “sell” rating to a “neutral” rating in a research report on Wednesday, December 12th. Citigroup set a $21.00 price target on shares of Ecopetrol and gave the company a “hold” rating in a research report on Monday, December 17th. Zacks Investment Research upgraded shares of Ecopetrol from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, October 23rd. Finally, ValuEngine upgraded shares of Ecopetrol from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.67.

Shares of NYSE EC traded up $0.44 during midday trading on Thursday, hitting $18.85. 908,017 shares of the company traded hands, compared to its average volume of 916,362. Ecopetrol has a 12-month low of $15.25 and a 12-month high of $27.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.33 and a quick ratio of 1.09. The stock has a market capitalization of $37.07 billion, a P/E ratio of 17.29, a P/E/G ratio of 0.55 and a beta of 1.45.

A number of institutional investors and hedge funds have recently made changes to their positions in EC. Cubist Systematic Strategies LLC purchased a new stake in Ecopetrol in the second quarter worth about $459,000. Northern Trust Corp grew its holdings in Ecopetrol by 2.0% in the second quarter. Northern Trust Corp now owns 263,076 shares of the oil and gas company’s stock worth $5,406,000 after purchasing an additional 5,145 shares during the period. DNB Asset Management AS grew its holdings in Ecopetrol by 16.4% in the third quarter. DNB Asset Management AS now owns 673,185 shares of the oil and gas company’s stock worth $18,129,000 after purchasing an additional 95,019 shares during the period. Deprince Race & Zollo Inc. grew its holdings in Ecopetrol by 45.8% in the third quarter. Deprince Race & Zollo Inc. now owns 228,445 shares of the oil and gas company’s stock worth $6,152,000 after purchasing an additional 71,750 shares during the period. Finally, Aperio Group LLC grew its holdings in Ecopetrol by 18.5% in the third quarter. Aperio Group LLC now owns 431,509 shares of the oil and gas company’s stock worth $11,621,000 after purchasing an additional 67,515 shares during the period. Institutional investors and hedge funds own 2.95% of the company’s stock.

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.

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