Equities analysts expect Ecopetrol SA (NYSE:EC) to report sales of $5.89 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ecopetrol’s earnings, with the highest sales estimate coming in at $5.99 billion and the lowest estimate coming in at $5.79 billion. Ecopetrol reported sales of $4.53 billion in the same quarter last year, which would indicate a positive year over year growth rate of 30%. The company is expected to report its next earnings results after the market closes on Tuesday, November 6th.

On average, analysts expect that Ecopetrol will report full year sales of $23.48 billion for the current fiscal year, with estimates ranging from $23.04 billion to $23.87 billion. For the next fiscal year, analysts forecast that the company will post sales of $25.36 billion, with estimates ranging from $23.99 billion to $27.77 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Ecopetrol.

Ecopetrol (NYSE:EC) last announced its earnings results on Tuesday, August 14th. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.99 billion. Ecopetrol had a return on equity of 11.69% and a net margin of 17.52%.

EC has been the topic of several recent research reports. Zacks Investment Research downgraded Ecopetrol from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Raymond James raised Ecopetrol from an “underperform” rating to a “market perform” rating in a research note on Monday, October 22nd. ValuEngine downgraded Ecopetrol from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Citigroup raised Ecopetrol from a “sell” rating to a “neutral” rating in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.67.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in Ecopetrol by 19.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 292,387 shares of the oil and gas company’s stock worth $5,652,000 after acquiring an additional 47,680 shares during the last quarter. Northern Trust Corp increased its stake in Ecopetrol by 7.1% in the 1st quarter. Northern Trust Corp now owns 257,931 shares of the oil and gas company’s stock worth $4,986,000 after acquiring an additional 17,029 shares during the last quarter. Stifel Financial Corp increased its stake in Ecopetrol by 22.4% in the 1st quarter. Stifel Financial Corp now owns 12,531 shares of the oil and gas company’s stock worth $239,000 after acquiring an additional 2,297 shares during the last quarter. BB&T Securities LLC bought a new stake in Ecopetrol in the 1st quarter worth approximately $212,000. Finally, UBS Group AG increased its stake in Ecopetrol by 203.3% in the 1st quarter. UBS Group AG now owns 79,417 shares of the oil and gas company’s stock worth $1,535,000 after acquiring an additional 53,237 shares during the last quarter. 2.85% of the stock is currently owned by institutional investors.

Shares of NYSE EC traded up $0.07 during trading on Friday, hitting $23.59. The company had a trading volume of 914,095 shares, compared to its average volume of 1,420,764. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 0.68. Ecopetrol has a 12 month low of $10.42 and a 12 month high of $27.96. The company has a market capitalization of $48.50 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27.

About Ecopetrol

Ecopetrol SA operates as an integrated oil and gas company. It operates through three segments: Exploration and Production; Refining, Petrochemical, and Biofuels; and Transport and Logistics. The company produces crude oil and gas; and engages in the extraction, collection, treatment, storage and pumping or compression of hydrocarbons.

Read More: How can investors find ex-dividend dates?

Get a free copy of the Zacks research report on Ecopetrol (EC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ecopetrol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecopetrol and related companies with MarketBeat.com's FREE daily email newsletter.