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4-Traders Homepage  >  Equities  >  BOLSA DE VALORES DE COLOMBIA  >  Ecopetrol SA    ECO   COC04PA00016

ECOPETROL SA (ECO)
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Colombia Stocks Rise, Shrugs Off Declines In US; Peso Weakens

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04/04/2012 | 11:14pm CET

--Colombian share prices see modest gains despite drop in U.S. stock markets

--State-controlled oil firm Ecopetrol rises 0.2%

--Colombia peso rangebound as four-day weekend begins in Colombia

By Dan Molinski

Of

Colombian stocks rose marginally Wednesday, shrugging off market declines in the U.S., while the peso ended weaker but stayed in tight ranges as investors held their positions ahead of a four-day weekend.

The Colcap index, the benchmark for the Colombian Stock Exchange, rose 0.06% to end at 1,742.90 points. Markets, businesses and government offices are closed Thursday and Friday in Colombia to celebrate Holy Week.

Shares of national oil company Ecopetrol (ECOPETROL.BO, EC) rose 0.2% to COP5,610 despite a 2.4% drop in global prices for a barrel of crude oil amid rising stockpiles in the U.S.

Canada-based but Colombia-focused Canacol Energy Ltd. (CAAEF, CNE.T, CNEC.BO) slid 4.6% to COP1,335. The stock has fallen some 18% over the past week following an announcement by the company that one of its explorations only found small traces of oil. Several local analysts said earlier this week investors are over-punishing the stock for what is simply one dry well. But the share price continues to decline.

Meanwhile, the Colombian peso weakened slightly to end at COP1,772.52 for a dollar, from COP1,770.00 a day earlier, according to Set-FX, the foreign-exchange transaction system used by the Bogota bourse.

The yield on Colombia's peso-denominated bond due July 2024 closed at 7.233% after beginning the session at 7.230%.

-By Dan Molinski, Dow Jones Newswires; 57-310-867-6542; [email protected]

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(MORE TO FOLLOW) Dow Jones Newswires

04-04-12 1713ET

Valeurs citées dans l'article
ChangeLast1st jan.
CANACOL ENERGY LTD -0.92% 4.29 End-of-day quote.-6.13%
ECOPETROL SA --End-of-day quote.
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Financials ( COP)
Sales 2017 55 102 B
EBIT 2017 14 279 B
Net income 2017 -
Debt 2017 42 671 B
Yield 2017 1,57%
P/E ratio 2017 17,92
P/E ratio 2018 11,05
EV / Sales 2017 2,62x
EV / Sales 2018 2,07x
Capitalization 101 764 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 2 021  COP
Spread / Average Target -18%
EPS Revisions
Managers
NameTitle
Felipe Bayón Pardo President
Carlos Alfredo Cure Cure Chairman
María Fernanda Suárez Londoño Chief Financial Officer
Andrés Mantilla Vice President-Innovation & Technology
Jurgen Loeber Vice President-Engineering & Projects
Sector and Competitors
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ECOPETROL SA35 414
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PETROCHINA COMPANY-0.87%219 416
TOTAL1.68%146 476
PETROLEO BRASILEIRO SA PETROBRAS26.02%83 639
STATOIL1.80%75 594