Ecopetrol (EC) Stock Falls Amid Market Uptick: What Investors Need to Know

In the latest trading session, Ecopetrol (EC) closed at $8.73, marking a -1.24% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.06% for the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq decreased by 0.39%. Shares of the oil and natural gas exploration company have depreciated by 6.46% over the course of the past month, underperforming the Oils-Energy sector's loss of 3.71%, and the S&P 500's gain of 5.88%.Market participants will be closely following the financial results of Ecopetrol in its upcoming release. On that day, Ecopetrol is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 23.81%. Meanwhile, our latest consensus estimate is calling for revenue of $7.26 billion, down 12.73% from the prior-year quarter. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.62 per share and a revenue of $29.2 billion, representing changes of -2.41% and -10.82%, respectively, from the prior year. Investors should also note any recent changes to analyst estimates for Ecopetrol. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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 3.86% lower within the past month. At present, Ecopetrol boasts a Zacks Rank of #5 (Strong Sell). Digging into valuation, Ecopetrol currently has a Forward P/E ratio of 5.46. This expresses a discount compared to the average Forward P/E of 11.1 of 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 177, positioning it in the bottom 29% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual 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. Should You Invest in Ecopetrol S.A. (EC)?Before you invest in Ecopetrol S.A. (EC), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ecopetrol S.A. (EC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks