Ecopetrol S.A. (NYSE:EC) finished Wednesday with an addition of $0.28 to close at $11.54, an upside of 2.49 percent. An average of 1,599,932 shares of common stock have been traded in the last five days. There was a gain of $0.29 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 1,344,828 shares traded, while the 50-day average volume stands at 1,396,299.
EC stock has increased by 7.15% in the last month. The company shares reached their 1-month lowest point of $10.42 on 07/11/23. With the stock rallying to its 52-week high on 01/23/23, shares of the company touched a low of $8.48 and a high of $12.19 in 52 weeks. It has reached a new high 9 times so far this year and achieved 11.66% or $1.07 in price. In spite of this, the price is down -5.34% from the 52-week high.
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Valuation Metrics
Ecopetrol S.A. (EC) has a trailing price-to-earnings (P/E) ratio of 3.04. The stock’s beta is 1.44. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.60, the price-to-book (PB) ratio at 1.36.
Financial Health
The quick ratio of Ecopetrol S.A. for the three months ended June 29 was 1.00, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.38 and a total debt to equity ratio of 1.60 for the quarter ending June 29. Ecopetrol S.A.’s EBITDA margin for the year ending June 29 is 30.60%, while its operating margin for the same period stands at 37.00%. Its gross profit as reported stood at $77.17 billion compared to revenue of $175.57 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ecopetrol S.A.’s return on assets was 11.20%.
Earnings Surprise
For the three-month period that ended June 29, Ecopetrol S.A. had $1.73 billion in cash and short-term investments compared to $612.63 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $8.06 billion in the quarter, while revenues were grew 50.48%. The analyst consensus anticipated Ecopetrol S.A.’s latest quarter earnings to come in at $0.51 per share, but it turned out to be $0.45, a -11.80% surprise. For the quarter, EBITDA amounted to $3.38 billion. At the end of the quarter ending June 29, Ecopetrol S.A.’s stock balance sheet showed total liabilities of 42.54 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ecopetrol S.A. (EC) price momentum. RSI 9-day as of the close on 09 August was 59.52%, suggesting the stock is Neutral, with historical volatility in this time frame at 34.27%.
As of today, EC’s price is $11.46 +2.57% or $0.29 from its 5-day moving average. EC is currently trading +5.48% higher than its 20-day SMA and +16.67% higher than its 100-day SMA. However, the stock’s current price level is +25.43% above the SMA50 and +20.58% above the SMA200.
The stochastic %K and %D were 63.81% and 66.13%, respectively, and the average true range (ATR) was 0.34. With the 14-day stochastic at 72.73% and the average true range at 0.32, the RSI (14) stands at 60.08%. The stock has reached 0.03 on the 9-day MACD Oscillator while the 14-day reading was at 0.09.
Analyst Ratings
HSBC Securities downgraded Ecopetrol S.A. (NYSE: EC) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Ecopetrol S.A. (EC) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell EC, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is EC’s price target for the next 12 months?
Analysts predict a range of price targets between $40341.10 and $59218.38, with a median target of $49762.13. Taking a look at these predictions, the average price target given by analysts for Ecopetrol S.A. (EC) stock is $49799.89.
