Ecopetrol slips as earnings forecasts point to growth

Ecopetrol ended the latest trading session at $16.52, down 1.08%. The decline was steeper than the S&P 500’s 0.17% loss, the Dow’s 0.26% drop and the Nasdaq’s 0.09% decline.

Over the past month, Ecopetrol shares gained 0.18%, according to Zacks. That outpaced the Oils-Energy sector’s 0.04% gain and the S&P 500’s 0.24% decline.

Zacks consensus estimates call for quarterly earnings of $0.43 per share, up 38.71% from a year earlier, and revenue of $8.8 billion, an 18% increase. The article did not specify when the company will report.

For the full year, Zacks projects earnings of $1.85 per share and revenue of $38.57 billion. Those estimates represent increases of 46.83% and 30.33%, respectively, from the prior year.

Zacks said its consensus earnings estimate for Ecopetrol had remained unchanged over the past month. The publisher put the stock’s forward price-to-earnings ratio at 9.05, compared with an 8.86 average for its industry.