Ecopetrol (NYSE:EC) Stock

Ecopetrol

Ecopetrol SA is engaged in commercial and industrial activities related to the exploration, exploitation, refining, transportation, storage, distribution, and marketing of hydrocarbons, their derivatives, and products, as well as the electric power transmission services, design, development, construction, operation, and maintenance of road and energy infrastructure projects and the provision of information technology and telecommunications services. The operations of the company are performed through four business segments: Exploration and Production, Transport and Logistics, Refining and Petrochemical, and Electric Power Transmission and Toll Roads Concessions. The majority of the company's revenue is generated from the Refining and Petrochemical segment.

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Shares of oil and gas companies are trading lower amid a rise in US crude inventories.

Ecopetrol Reports Incorporation Of Proven Reserves For Group Of 260 Mboe, 2.2 Times Compared To 2023

Shares of several oil companies are trading higher following a drone attack on a Russian pipeline which could reduce supply.

Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) will release its fourth-quarter financial results, after the <a href="https://www.benzinga.com/quote/OXY/earnings">closing bell, on Tuesday, Feb. 18, 2025.</a>
Analysts expect the Houston, Texas-based company to report quarterly earnings at 70 cents per share, down from 74 cents per share in the year-ago period. Occidental Petroleum projects quarterly revenue of $7.05 billion, compared to $7.53 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Ecopetrol S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) recently disclosed that Ecopetrol Permian LLC and Occidental Petroleum have planned to extend the development plan for Rodeo Midland Basin in the Permian Basin (Texas, USA).
Occidental Petroleum shares gained 0.4% to close at $48.06 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/OXY/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Goldman Sachs analyst Neil Mehta downgraded the stock from Neutral to Sell and cut the price target from $54 to $45 on Jan. 31, 2025. This analyst has an accuracy rate of 69%.</li>
<li>Truist Securities analyst Neil Dingmann maintained a Hold rating and raised the price target from $56 to $58 on Jan. 13, 2025. This analyst has an accuracy rate of 66%.</li>
<li>Piper Sandler analyst Ryan Todd maintained a Neutral rating and cut the price target from $57 to $51 on Dec. 19, 2024. This analyst has an accuracy rate of 69%.</li>
<li>Wells Fargo analyst Roger Read maintained an Equal-Weight rating and cut the price target from $56 to $53 on Dec. 9, 2024. This analyst has an accuracy rate of 64%.</li>
<li>Citigroup analyst Scott Gruber maintained a Neutral rating and cut the price target from $57 to $56 on Nov. 26, 2024. This analyst has an accuracy rate of 62%.</li>
</ul>
Considering buying OXY stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="553" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18030740/image-146-1024x553.png" alt="" class="wp-image-786214" style="width:701px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18030740/image-146-1024x553.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18030740/image-146-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18030740/image-146-768x415.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18030740/image-146.png 1142w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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As of Feb. 18, 2025, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Ecopetrol SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>)</h3>
<ul>
<li>On Feb. 13, JP Morgan analyst Rodolfo Angele upgraded Ecopetrol from Underweight to Neutral and raised the price target from $7.5 to $9.5. The company's stock gained around 21% over the past month and has a <a href="https://www.benzinga.com/quote/EC">52-week high of $12.90</a>.</li>
<li>RSI Value: 72.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>EC Price Action: Shares of Ecopetrol gained 0.3% to close at $10.25 on Friday.</li>
</ul>
<h3 class="wp-block-heading">BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>)</h3>
<ul>
<li>On Feb. 11, BP reported fourth-quarter results. Sales and other operating revenues came in at $45.752 billion, missing the consensus of $47.511 billion. Hydrocarbon production was 850 mboe/d (-5.4% Y/Y), with underlying production declining 2.7% Y/Y mainly due to base decline in Egypt. The company's stock gained around 11% over the past month and <a href="https://www.benzinga.com/quote/BP">has a 52-week high</a> of $40.40.</li>
<li>RSI Value: 80</li>
<li>BP Price Action: Shares of BP gained 1.5% to close at $35.00 on Friday.</li>
</ul>
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JP Morgan analyst Rodolfo Angele upgrades Ecopetrol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) from Underweight to Neutral and raises the price target from $7.5 to $9.5.

Upgrades

JP Morgan Upgrades Ecopetrol to Neutral, Raises Price Target to $9.5

Reported Earlier, Ecopetrol Completes $452M Acquisition Of Repsol's 45% Stake In Block CPO-09, Securing Full Ownership

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Shares of oil and gas companies are trading higher as investors evaluate President Trump's tariffs against Mexico, Canada and China and its impact on refining costs. Also, OPEC+ is maintaining its policy of raising oil output but has removed the U.S. government data as a source to monitor production and adherence to supply pacts.

As of Feb. 3, 2025, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to<a href="https://pro.benzinga.com/"> Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Ecopetrol SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>)</h3>
<ul>
<li>On Monday, Ecopetrol disclosed that Ecopetrol Permian LLC and Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) have planned to extend the development plan for Rodeo Midland Basin in the Permian Basin (Texas, USA). The agreement between Ecopetrol Permian and Occidental Petroleum, under the joint venture formed in July 2019, includes a drilling plan for 34 wells to be executed between April 2025 and June 2026, in addition to the ongoing wells planned for early 2025.. The company's stock surged around 16% over the past month and has a <a href="https://www.benzinga.com/quote/EC">52-week high of $12.90</a>.</li>
<li>RSI Value: 71.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>EC Price Action: Shares of Ecopetrol gained 3.1% to trade at $9.58 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Core Natural Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNR#NYSE">CNR</a>)</h3>
<ul>
<li>On Jan. 31, Jefferies analyst Christopher LeFemina initiated coverage on Core Natural Resources with a Hold rating and announced a price target of $93. The company's stock gained around 825% over the past five years and <a href="https://www.benzinga.com/quote/CNR">has a 52-week high</a> of $134.14.</li>
<li>RSI Value: 70.6</li>
<li>CNR Price Action: Shares of Core Natural Resources fell 3.9% to trade at $86.92 on Monday.</li>
</ul>
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Ecopetrol S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) disclosed that Ecopetrol Permian LLC and Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) have planned to extend the development plan for Rodeo Midland Basin <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43431000/ecopetrol-and-oxy-agree-to-extend-their-development-plan-in-the-midland-area-of-the-permian-basin" rel="noreferrer noopener">in the Permian Basin (Texas, USA)</a>.
The agreement between Ecopetrol Permian and Occidental Petroleum, under the joint venture formed in July 2019, includes a drilling plan for 34 wells to be executed between April 2025 and June 2026, in addition to the ongoing wells planned for early 2025.
The companies have also left open the possibility of extending the Development Plan in the future, depending on the macroeconomic environment, industry conditions, and the interests of both partners.
Additionally, Ecopetrol and Oxy will maintain an independent contract for developing the Delaware sub-basin, which will remain effective until 2027.
For 2025, Ecopetrol Permian's development plan for the Midland and Delaware sub-basins includes drilling about 91 wells, with an investment of $885 million.
This initiative is expected to generate an average annual output of approximately 90,000 barrels of oil equivalent per day (net to Ecopetrol Permian).
This plan is in line with the Ecopetrol Group's focus on capital discipline and portfolio diversification.
In November, the company&#8217;s Board of Directors approved the Ecopetrol Group's annual <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42252871/the-ecopetrol-group-is-expected-to-invest-between-24-and-28-trillion-pesos-in-2025" rel="noreferrer noopener">investment budget for 2025.</a>
Investors can gain exposure to EC via First Trust Indxx Global Natural Resources Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRI#NASDAQ">FTRI</a>) and Virtus Real Asset Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRAI#NYSE">VRAI</a>).
Price Action: EC shares are down 0.32% at $9.25 at the last check Monday.
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Photo via Shutterstock

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Ecopetrol Expands Permian Development With Occidental Petroleum: Details

This agreement, reached by the companies, includes a drilling plan for 34 wells between April 2025 and June 2026, in addition to those being executed under the current development plan for the first months of 2025.
The agreement maintains the possibility of signing a new extension of the Development Plan in the future,&nbsp;subject to the macroeconomic environment, industry situation, and partners' interests.
Ecopetrol and Oxy will keep active an independent contract for the development of the Delaware sub-basin, will remain in force until 2027.

Ecopetrol And OXY Extend Permian Basin Development Plan; 34 New Wells Planned From April 2025 To June 2026

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
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<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares escalated 15.85% after the company reported better-than-expected financial results for the fiscal second quarter and <a href="https://www.benzinga.com//node/43391113" target="_blank" rel="noreferrer noopener">analysts changed their price forecast</a>.</li>
<li>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) stock upped 14.86% after announcing upbeat fourth-quarter results <a href="https://www.benzinga.com//node/43312480" target="_blank" rel="noreferrer noopener">and analysts raised the price forecast.</a></li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) shares increased 13.75% after the company reported an upbeat fourth-quarter results and <a href="https://www.benzinga.com//node/43341886" target="_blank" rel="noreferrer noopener">analysts revised the price forecast</a>.</li>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) stock grew 12.30% amid a rebound in the broader space.</li>
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<li>RBC Bearings Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) shares jumped 10.99% after the company reported better-than-expected third-quarter results and issued fourth-quarter <a href="https://www.benzinga.com//node/43382549" target="_blank" rel="noreferrer noopener">net sales guidance above estimates</a>.</li>
<li>Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) shares escalated 10.88% as the company&#8217;s latest artificial intelligence <a href="https://www.benzinga.com//node/43351350" target="_blank" rel="noreferrer noopener">model, Qwen 2.5, gained traction</a>.</li>
<li>Duolingo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) stock gained 10.77% last week after several analysts raised their <a href="https://www.benzinga.com/quote/DUOL/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts</a>.</li>
<li>Franklin Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) stock upped 10.70% after the company reported better-than-expected Q1 financial results.</li>
<li>Cloudflare, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) stock rose 10.61% amid a rebound in the broader market, which sold off amid concerns about AI competition<a href="https://www.benzinga.com/quote/net/analyst-ratings" target="_blank" rel="noreferrer noopener"> from China</a>.</li>
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Shares of oil and gas companies are trading lower as investors evaluate the February 1st tariff deadline for Mexico, Canada and China.

Ecopetrol Has Reached An Agreement To Reduce 50% Of The Conversion Cost For The Purchase And Sale Of ADRs In The United States; The Measure Is Temporary And Is Expected To Be Effective Until July 10, 2025

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<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares escalated 17.45% after the company disclosed its production and delivery figures for the <a href="https://www.benzinga.com//node/42786671" target="_blank" rel="noreferrer noopener">fourth quarter and full-year 2024</a>.</li>
<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) stock surged 16.59% after the company launched a strategic capital initiative in partnership <a href="https://www.benzinga.com//node/42739532" target="_blank" rel="noreferrer noopener">with institutional investors</a>.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) shares jumped 12.66% after UBS raised its price forecast on<a href="https://www.benzinga.com/quote/vst/analyst-ratings" target="_blank" rel="noreferrer noopener"> the stock from $161 to $174</a>.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares rose 11.45%.</li>
<li>Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) stock surged 11.06% after the company announced it had received $3B in financing <a href="https://www.benzinga.com//node/42766874" target="_blank" rel="noreferrer noopener">for its U.S. Empire Wind 1 project</a>.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares increased 10.39% after the company announced it won $1 billion in combined contracts from the <a href="https://www.benzinga.com//node/42770600" target="_blank" rel="noreferrer noopener">U.S. General Services Administration</a>.</li>
<li>Ecopetrol S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) stock was up 9.40% after the company confirmed an agreement with Repsol to purchase its interest in the Exploration and Production Contract <a href="https://www.benzinga.com//node/42750775" target="_blank" rel="noreferrer noopener">(E&amp;P Contract) for Block CPO-09</a>.</li>
<li>Permian Resources Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PR#NYSE">PR</a>) shares upped 9.16%.</li>
<li>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) stock increased 9.06%.</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) stock gained 8.78% last week, continuing the momentum of 2024&#8217;s rally.</li>
</ol>
Photo Courtesy of Rivian

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The final closing of the acquisition has not yet occurred, as some of the conditions for closing are pending to be fulfilled, including the approval by the Superintendence of Industry and Commerce and the authorization by the National Hydrocarbons Agency (ANH) within their respective competencies.

Ecopetrol Confirms Deal To Purchase Repsol's 45% Stake In Block CPO 09; Says Some Of The Conditions For Closing Are Pending To Be Fulfilled

Ecopetrol To Purchase Repsol's 45% Stake In Block CPO-09

In the current session, Ecopetrol Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) is trading at $7.92, after a 0.38% drop. Over the past month, the stock decreased by 3.17%, and in the past year, by 33.60%. With performance like this, long-term shareholders are more likely to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1734453906_0.png" alt="Past Year Chart" />

<h3>Ecopetrol P/E Ratio Analysis in Relation to Industry Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Ecopetrol has a lower P/E than the aggregate P/E of 14.33 of the Oil, Gas &amp; Consumable Fuels industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1734453906_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

P/E Ratio Insights for Ecopetrol

Looking into the current session, Ecopetrol Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) shares are trading at $8.03, after a 1.58% spike. Moreover, over the past month, the stock increased by 4.90%, but in the past year, decreased by 36.91%. Shareholders might be interested in knowing whether the stock is undervalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1733427915_0.png" alt="Past Year Chart" />

<h3>Ecopetrol P/E Compared to Competitors</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Ecopetrol has a lower P/E than the aggregate P/E of 14.48 of the Oil, Gas &amp; Consumable Fuels industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1733427915_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Price Over Earnings Overview: Ecopetrol

Commodities

Press Releases

Ecopetrol announces changes in senior management

ECOPETROL S.A. reports on the decision adopted by the Court of the Southern District of New York on the arbitration ruling issued in favor of Refinería de Cartagena S.A.S.

Ecopetrol S.A. submitted the Report on the Implementation of Best Corporate Practices - "Código País" for FY2024

Ecopetrol Announces Changes in Senior Management

Ecopetrol and OXY agree to extend their development plan in the Midland area of the Permian Basin

Ecopetrol announces the completion of the transaction with Repsol to acquire 45% of its participation in Block CPO-09

Ecopetrol announces the dates for the publication of its fourth quarter and full year 2024 earnings report and conference call

Ecopetrol Group replaced 104% of its production, doubling the 2023 incorporation of proven reserves.

Ecopetrol publishes measures to guarantee the adequate representation of its Shareholders at the Ordinary General Shareholders' Meeting to be held on March 28, 2025

ECOPETROL S.A.: Call for General Shareholders' Meeting

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