Brokerages Anticipate Ecopetrol SA (NYSE:EC) to Announce $0.56 Earnings Per Share

Wall Street analysts expect Ecopetrol SA (NYSE:EC) to report $0.56 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Ecopetrol’s earnings, with estimates ranging from $0.47 to $0.69. Ecopetrol reported earnings of $0.60 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.7%. The firm is expected to issue its next earnings results on Tuesday, August 13th.

According to Zacks, analysts expect that Ecopetrol will report full year earnings of $2.02 per share for the current financial year, with EPS estimates ranging from $1.44 to $2.48. For the next year, analysts forecast that the business will post earnings of $2.31 per share, with EPS estimates ranging from $1.13 to $3.72. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Ecopetrol.

Ecopetrol (NYSE:EC) last issued its earnings results on Tuesday, May 7th. The oil and gas company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.94 billion. Ecopetrol had a return on equity of 10.58% and a net margin of 16.56%.

A number of brokerages have commented on EC. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered First Quantum Minerals from an “overweight” rating to a “neutral” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.33.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC boosted its stake in shares of Ecopetrol by 116.6% in the 1st quarter. Lindbrook Capital LLC now owns 1,315 shares of the oil and gas company’s stock worth $28,000 after buying an additional 708 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Ecopetrol in the 1st quarter worth approximately $109,000. Advisors Preferred LLC purchased a new position in shares of Ecopetrol in the 1st quarter worth approximately $110,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Ecopetrol in the 2nd quarter worth approximately $208,000. Finally, Geode Capital Management LLC purchased a new position in shares of Ecopetrol in the 4th quarter worth approximately $217,000. 2.84% of the stock is owned by hedge funds and other institutional investors.

Shares of EC opened at $18.60 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 0.92. The business’s 50 day moving average is $18.33. The company has a market cap of $38.49 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.54 and a beta of 1.55. Ecopetrol has a 52 week low of $15.25 and a 52 week high of $27.96.

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.

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