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Ecopetrol (EC) Ascends While Market Falls: Some Facts to Note
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Ecopetrol (EC - Free Report) ended the recent trading session at $10.11, demonstrating a +0.6% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.77%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 1.05%.
Prior to today's trading, shares of the oil and natural gas exploration company had lost 9.7% over the past month. This has lagged the Oils-Energy sector's loss of 4.56% and the S&P 500's loss of 5.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Ecopetrol in its upcoming earnings disclosure. The company's earnings report is set to go public on August 13, 2024. The company is forecasted to report an EPS of $0.59, showcasing a 31.11% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.66 billion, indicating a 11.71% growth compared to the corresponding quarter of the prior year.
EC's full-year Zacks Consensus Estimates are calling for earnings of $2.41 per share and revenue of $33.53 billion. These results would represent year-over-year changes of +1.26% and +1.06%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Ecopetrol. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.37% downward. Right now, Ecopetrol possesses a Zacks Rank of #4 (Sell).
Looking at its valuation, Ecopetrol is holding a Forward P/E ratio of 4.18. This indicates a premium in contrast to its industry's Forward P/E of 4.14.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 220, positioning it in the bottom 14% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Ecopetrol (EC) Ascends While Market Falls: Some Facts to Note
Ecopetrol (EC - Free Report) ended the recent trading session at $10.11, demonstrating a +0.6% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.77%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 1.05%.
Prior to today's trading, shares of the oil and natural gas exploration company had lost 9.7% over the past month. This has lagged the Oils-Energy sector's loss of 4.56% and the S&P 500's loss of 5.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Ecopetrol in its upcoming earnings disclosure. The company's earnings report is set to go public on August 13, 2024. The company is forecasted to report an EPS of $0.59, showcasing a 31.11% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.66 billion, indicating a 11.71% growth compared to the corresponding quarter of the prior year.
EC's full-year Zacks Consensus Estimates are calling for earnings of $2.41 per share and revenue of $33.53 billion. These results would represent year-over-year changes of +1.26% and +1.06%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Ecopetrol. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.37% downward. Right now, Ecopetrol possesses a Zacks Rank of #4 (Sell).
Looking at its valuation, Ecopetrol is holding a Forward P/E ratio of 4.18. This indicates a premium in contrast to its industry's Forward P/E of 4.14.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 220, positioning it in the bottom 14% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.