Brokerages Expect Ecopetrol S.A. (NYSE:EC) Will Post Quarterly Sales of $8.47 Billion

Wall Street brokerages forecast that Ecopetrol S.A. (NYSE:ECGet Rating) will announce $8.47 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ecopetrol’s earnings. The lowest sales estimate is $8.26 billion and the highest is $8.69 billion. Ecopetrol reported sales of $4.83 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 75.4%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Ecopetrol will report full-year sales of $34.93 billion for the current fiscal year, with estimates ranging from $34.06 billion to $35.80 billion. For the next fiscal year, analysts expect that the business will post sales of $34.79 billion, with estimates ranging from $32.88 billion to $36.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ecopetrol.

Several equities research analysts have recently commented on the company. StockNews.com initiated coverage on Ecopetrol in a report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet raised Ecopetrol from a “c” rating to a “b-” rating in a report on Monday, April 18th. Zacks Investment Research downgraded Ecopetrol from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Morgan Stanley downgraded Ecopetrol from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, Ecopetrol has a consensus rating of “Hold” and an average price target of $17.73.

A number of hedge funds have recently bought and sold shares of EC. Schroder Investment Management Group increased its position in shares of Ecopetrol by 11.7% in the fourth quarter. Schroder Investment Management Group now owns 43,730 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 4,574 shares during the last quarter. Penserra Capital Management LLC bought a new position in Ecopetrol in the 1st quarter valued at about $47,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ecopetrol during the 3rd quarter valued at approximately $162,000. Advisor Group Holdings Inc. grew its holdings in shares of Ecopetrol by 8.7% during the 3rd quarter. Advisor Group Holdings Inc. now owns 11,308 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 904 shares during the last quarter. Finally, Profund Advisors LLC bought a new stake in shares of Ecopetrol during the 4th quarter valued at approximately $163,000. Hedge funds and other institutional investors own 1.23% of the company’s stock.

NYSE:EC opened at $15.31 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.13 and a current ratio of 1.38. The stock has a market cap of $31.47 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.07 and a beta of 1.57. The business has a fifty day moving average of $17.12 and a 200-day moving average of $15.45. Ecopetrol has a 1 year low of $11.76 and a 1 year high of $19.81.

The business also recently declared an annual dividend, which was paid on Thursday, April 28th. Stockholders of record on Wednesday, April 20th were given a $1.379 dividend. This is a positive change from Ecopetrol’s previous annual dividend of $0.09. This represents a dividend yield of 7.25%. The ex-dividend date was Tuesday, April 19th. Ecopetrol’s dividend payout ratio (DPR) is currently 99.32%.

Ecopetrol Company Profile (Get Rating)

Ecopetrol SA operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads Concessions. It engages in the exploration and production of oil and gas; transportation of crude oil, motor fuels, fuel oil, and other refined products, including diesel, jet, and biofuels; processing and refining crude oil; distribution of natural gas and LPG; sale of refined and petrochemical products; supplying of electric power transmission services; design, development, construction, operation, and maintenance of road and energy infrastructure projects; and supplying of information technology and telecommunications services.

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