Ecopetrol SA ADR (NYSE: EC): Do Not Miss The Gain Train

Ecopetrol SA ADR (EC) concluded trading on Wednesday at a closing price of $12.89, with 4.06 million shares of worth about $52.29 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.71% during that period and on April 3, 2024 the price saw a gain of about 1.50%. Currently the company’s common shares owned by public are about 2.06B shares, out of which, 2.06B shares are available for trading.

Stock saw a price change of 17.40% in past 5 days and over the past one month there was a price change of 19.68%. Year-to-date (YTD), EC shares are showing a performance of 8.14% which increased to 27.14% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.35 but also hit the highest price of $12.96 during that period. The average intraday trading volume for Ecopetrol SA ADR shares is 1.94 million. The stock is currently trading 17.02% above its 20-day simple moving average (SMA20), while that difference is up 12.09% for SMA50 and it goes to 12.10% higher than SMA200.

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Ecopetrol SA ADR (NYSE: EC) currently have 2.06B outstanding shares and institutions hold larger chunk of about 1.69% of that.

The stock has a current market capitalization of $26.50B and its 3Y-monthly beta is at 1.29. PE ratio of stock for trailing 12 months is 6.01, while it has posted earnings per share of $2.14 in the same period. It has Quick Ratio of 1.33 while making debt-to-equity ratio of 1.35. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EC, volatility over the week remained 3.23% while standing at 2.53% over the month.

Analysts are in expectations that Ecopetrol SA ADR (EC) stock would likely to be making an EPS of $0.53 in the current quarter, while forecast for next quarter EPS is $0.54 and it is $2 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.45 which is $0.6 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -5.98% while it is estimated to decrease by -5.44% in next year. EPS is likely to shrink at an annualized rate of -5.50% for next 5-years, compared to annual growth of 2.43% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on March 04, 2024 offering an Underweight rating for the stock and assigned a target price range of between $11 and $8.50 to it. Coverage by Jefferies stated Ecopetrol SA ADR (EC) stock as an Underperform in their note to investors on September 21, 2023, suggesting a price target of $11.20 for the stock. On September 13, 2023, Citigroup Downgrade their recommendations, while on August 23, 2023, BofA Securities Resumed their ratings for the stock with a price target of $11.50. Stock get a Hold rating from HSBC Securities on February 10, 2023.

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