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Ecopetrol (EC) Stock Slides as Market Rises: Facts to Know Before You Trade
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Ecopetrol (EC - Free Report) ended the recent trading session at $14.92, demonstrating a -1.45% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.44%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.54%.
Shares of the oil and natural gas exploration company witnessed a gain of 17.18% over the previous month, beating the performance of the Oils-Energy sector with its gain of 7.22%, and the S&P 500's loss of 3.31%.
Investors will be eagerly watching for the performance of Ecopetrol in its upcoming earnings disclosure. On that day, Ecopetrol is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 19.44%. In the meantime, our current consensus estimate forecasts the revenue to be $7.34 billion, indicating a 2.09% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.68 per share and revenue of $31.83 billion, indicating changes of 0% and +32.95%, respectively, compared to the previous year.
Investors might also notice recent changes 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 64.38% upward. Ecopetrol currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Ecopetrol currently has a Forward P/E ratio of 9.03. For comparison, its industry has an average Forward P/E of 10.73, which means Ecopetrol is trading at a discount to the group.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 17, positioning it in the top 7% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Ecopetrol (EC) Stock Slides as Market Rises: Facts to Know Before You Trade
Ecopetrol (EC - Free Report) ended the recent trading session at $14.92, demonstrating a -1.45% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.44%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.54%.
Shares of the oil and natural gas exploration company witnessed a gain of 17.18% over the previous month, beating the performance of the Oils-Energy sector with its gain of 7.22%, and the S&P 500's loss of 3.31%.
Investors will be eagerly watching for the performance of Ecopetrol in its upcoming earnings disclosure. On that day, Ecopetrol is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 19.44%. In the meantime, our current consensus estimate forecasts the revenue to be $7.34 billion, indicating a 2.09% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.68 per share and revenue of $31.83 billion, indicating changes of 0% and +32.95%, respectively, compared to the previous year.
Investors might also notice recent changes 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 64.38% upward. Ecopetrol currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Ecopetrol currently has a Forward P/E ratio of 9.03. For comparison, its industry has an average Forward P/E of 10.73, which means Ecopetrol is trading at a discount to the group.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 17, positioning it in the top 7% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.