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Ecopetrol (EC) Ascends While Market Falls: Some Facts to Note
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Ecopetrol (EC - Free Report) closed at $9.84 in the latest trading session, marking a +1.13% move from the prior day. This change outpaced the S&P 500's 0.22% loss on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.51%.
The stock of oil and natural gas exploration company has risen by 14.88% in the past month, leading the Oils-Energy sector's gain of 5.72% and the S&P 500's gain of 0.45%.
Market participants will be closely following the financial results of Ecopetrol in its upcoming release. The company is forecasted to report an EPS of $0.52, showcasing a 23.81% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.26 billion, indicating a 12.73% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.65 per share and a revenue of $29.2 billion, representing changes of -0.6% and -10.82%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Ecopetrol. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ecopetrol is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Ecopetrol is currently exchanging hands at a Forward P/E ratio of 5.9. This valuation marks a discount compared to its industry average Forward P/E of 11.02.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Ecopetrol (EC) Ascends While Market Falls: Some Facts to Note
Ecopetrol (EC - Free Report) closed at $9.84 in the latest trading session, marking a +1.13% move from the prior day. This change outpaced the S&P 500's 0.22% loss on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.51%.
The stock of oil and natural gas exploration company has risen by 14.88% in the past month, leading the Oils-Energy sector's gain of 5.72% and the S&P 500's gain of 0.45%.
Market participants will be closely following the financial results of Ecopetrol in its upcoming release. The company is forecasted to report an EPS of $0.52, showcasing a 23.81% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.26 billion, indicating a 12.73% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.65 per share and a revenue of $29.2 billion, representing changes of -0.6% and -10.82%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Ecopetrol. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ecopetrol is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Ecopetrol is currently exchanging hands at a Forward P/E ratio of 5.9. This valuation marks a discount compared to its industry average Forward P/E of 11.02.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.