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Ecopetrol (EC) Stock Drops Despite Market Gains: Important Facts to Note
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Ecopetrol (EC - Free Report) closed the most recent trading day at $14.24, moving -2.2% from the previous trading session. This change lagged the S&P 500's 0.79% gain on the day. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq added 1.52%.
Prior to today's trading, shares of the oil and natural gas exploration company had lost 10.4% lagged the Oils-Energy sector's loss of 4.84% and the S&P 500's loss of 1.82%.
Analysts and investors alike will be keeping a close eye on the performance of Ecopetrol in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.09, showcasing a 419.05% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $9.58 billion, up 35.06% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.18 per share and revenue of $34.84 billion. These totals would mark changes of +73.02% and +17.7%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Ecopetrol. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.15% lower within the past month. At present, Ecopetrol boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Ecopetrol is currently exchanging hands at a Forward P/E ratio of 6.68. Its industry sports an average Forward P/E of 7.12, so one might conclude that Ecopetrol is trading at a discount comparatively.
It is also worth noting that EC currently has a PEG ratio of 0.77. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 0.58 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Ecopetrol (EC) Stock Drops Despite Market Gains: Important Facts to Note
Ecopetrol (EC - Free Report) closed the most recent trading day at $14.24, moving -2.2% from the previous trading session. This change lagged the S&P 500's 0.79% gain on the day. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq added 1.52%.
Prior to today's trading, shares of the oil and natural gas exploration company had lost 10.4% lagged the Oils-Energy sector's loss of 4.84% and the S&P 500's loss of 1.82%.
Analysts and investors alike will be keeping a close eye on the performance of Ecopetrol in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.09, showcasing a 419.05% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $9.58 billion, up 35.06% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.18 per share and revenue of $34.84 billion. These totals would mark changes of +73.02% and +17.7%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Ecopetrol. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.15% lower within the past month. At present, Ecopetrol boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Ecopetrol is currently exchanging hands at a Forward P/E ratio of 6.68. Its industry sports an average Forward P/E of 7.12, so one might conclude that Ecopetrol is trading at a discount comparatively.
It is also worth noting that EC currently has a PEG ratio of 0.77. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 0.58 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.