In the latest close session, Ecopetrol (EC) was down 4.32% at $13.51. The stock fell short of the S&P 500, which registered a gain of 1.18% for the day. On the other hand, the Dow registered a gain of 0.66%, and the technology-centric Nasdaq increased by 1.96%.
The oil and natural gas exploration company's stock has climbed by 0.07% in the past month, falling short of the Oils-Energy sector's gain of 2.34% and the S&P 500's gain of 3.93%.
Analysts and investors alike will be keeping a close eye on the performance of Ecopetrol in its upcoming earnings disclosure. The company is expected to report EPS of $0.29, down 19.44% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $7.34 billion, showing a 2.09% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.68 per share and a revenue of $31.83 billion, demonstrating changes of 0% and +32.95%, respectively, from the preceding year.
Any recent changes to analyst estimates for Ecopetrol should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. The Zacks Consensus EPS estimate has moved 27.85% higher within the past month. Currently, Ecopetrol is carrying a Zacks Rank of #2 (Buy).
Investors should also note Ecopetrol's current valuation metrics, including its Forward P/E ratio of 8.39. This signifies a discount in comparison to the average Forward P/E of 10.1 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 5, positioning it in the top 3% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EC in the coming trading sessions, be sure to utilize Zacks.com.
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Ecopetrol S.A. (EC): Free Stock Analysis Report
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