Ecopetrol SA (NYSE:EC) Expected to Post Earnings of $0.16 Per Share

Wall Street analysts expect that Ecopetrol SA (NYSE:EC) will announce earnings per share (EPS) of $0.16 for the current quarter, according to Zacks. Two analysts have issued estimates for Ecopetrol’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.02. Ecopetrol posted earnings of $0.43 per share during the same quarter last year, which would suggest a negative year over year growth rate of 62.8%. The company is expected to announce its next quarterly earnings results after the market closes on Monday, May 11th.

On average, analysts expect that Ecopetrol will report full-year earnings of $0.54 per share for the current year, with EPS estimates ranging from $0.23 to $0.77. For the next financial year, analysts expect that the company will post earnings of $0.82 per share, with EPS estimates ranging from $0.31 to $1.21. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Ecopetrol.

Ecopetrol (NYSE:EC) last issued its quarterly earnings data on Tuesday, March 31st. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter. The firm had revenue of $5.77 billion for the quarter. Ecopetrol had a net margin of 17.10% and a return on equity of 11.24%.

A number of brokerages have issued reports on EC. Morgan Stanley upgraded shares of Ecopetrol to a “hold” rating and set a $12.10 price target on the stock in a research note on Monday, March 16th. Zacks Investment Research upgraded shares of Ecopetrol from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. TheStreet lowered shares of Ecopetrol from a “b-” rating to a “c” rating in a research note on Wednesday, April 1st. Goldman Sachs Group upgraded shares of Ecopetrol from a “sell” rating to a “buy” rating and cut their target price for the stock from $18.00 to $12.40 in a research note on Monday, March 23rd. Finally, Citigroup upgraded shares of Ecopetrol from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ecopetrol currently has an average rating of “Buy” and a consensus target price of $17.30.

NYSE:EC traded down $0.02 on Friday, reaching $10.52. 635,472 shares of the company’s stock were exchanged, compared to its average volume of 1,398,220. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 5.11 and a beta of 1.88. The business has a fifty day moving average of $10.43 and a 200-day moving average of $15.91. Ecopetrol has a 52-week low of $6.28 and a 52-week high of $20.95.

The firm also recently declared an annual dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 22nd were issued a $0.8938 dividend. This represents a yield of 8.5%. This is an increase from Ecopetrol’s previous annual dividend of $0.53. The ex-dividend date of this dividend was Tuesday, April 21st. Ecopetrol’s dividend payout ratio is 39.80%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc boosted its holdings in Ecopetrol by 220.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,100 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Ecopetrol during the fourth quarter worth $32,000. Tower Research Capital LLC TRC lifted its holdings in shares of Ecopetrol by 469.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,578 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,125 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Ecopetrol by 32.6% during the fourth quarter. Parallel Advisors LLC now owns 3,385 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 833 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Ecopetrol by 33.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,737 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 2,174 shares in the last quarter. 2.30% of the stock is owned by hedge funds and other institutional investors.

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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