We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ecopetrol (EC) Stock Dips While Market Gains: Key Facts
Read MoreHide Full Article
Ecopetrol (EC - Free Report) closed at $8.74 in the latest trading session, marking a -3.32% move from the prior day. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow saw an upswing of 1.12%, while the tech-heavy Nasdaq appreciated by 1.37%.
Heading into today, shares of the oil and natural gas exploration company had gained 1.8% over the past month, outpacing the Oils-Energy sector's loss of 2.63% and the S&P 500's gain of 1.08%.
Market participants will be closely following the financial results of Ecopetrol in its upcoming release. The company's upcoming EPS is projected at $0.39, signifying a 9.30% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.83 billion, reflecting a 19.07% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.16 per share and a revenue of $28.27 billion, representing changes of -30.12% and -13.68%, respectively, from the prior year.
Any recent changes to analyst estimates for Ecopetrol should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.29% decrease. Ecopetrol is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Ecopetrol has a Forward P/E ratio of 7.79 right now. This signifies a discount in comparison to the average Forward P/E of 10.41 for its industry.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 221, positioning it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Ecopetrol (EC) Stock Dips While Market Gains: Key Facts
Ecopetrol (EC - Free Report) closed at $8.74 in the latest trading session, marking a -3.32% move from the prior day. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow saw an upswing of 1.12%, while the tech-heavy Nasdaq appreciated by 1.37%.
Heading into today, shares of the oil and natural gas exploration company had gained 1.8% over the past month, outpacing the Oils-Energy sector's loss of 2.63% and the S&P 500's gain of 1.08%.
Market participants will be closely following the financial results of Ecopetrol in its upcoming release. The company's upcoming EPS is projected at $0.39, signifying a 9.30% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.83 billion, reflecting a 19.07% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.16 per share and a revenue of $28.27 billion, representing changes of -30.12% and -13.68%, respectively, from the prior year.
Any recent changes to analyst estimates for Ecopetrol should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.29% decrease. Ecopetrol is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Ecopetrol has a Forward P/E ratio of 7.79 right now. This signifies a discount in comparison to the average Forward P/E of 10.41 for its industry.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 221, positioning it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.