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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 CEST

--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

Stocks mentioned in the article
ChangeLast1st jan.
CANACOL ENERGY LTD -2.46% 4.36 Delayed Quote.-1.78%
ECOPETROL SA --End-of-day quote.
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Financials ( COP)
Sales 2018 66 125 B
EBIT 2018 20 748 B
Net income 2018 10 873 B
Debt 2018 31 290 B
Yield 2018 3,88%
P/E ratio 2018 12,22
P/E ratio 2019 12,78
EV / Sales 2018 2,31x
EV / Sales 2019 2,29x
Capitalization 121 617 B
Chart ECOPETROL SA
Duration : Period :
Ecopetrol SA Technical Analysis Chart | ECO | COC04PA00016 | 4-Traders
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 2 163  COP
Spread / Average Target -29%
EPS Revisions
Managers
NameTitle
Felipe Bayón Pardo Chief Executive Officer
Carlos Alfredo Cure Cure Chairman
María Fernanda Suárez Londoño Chief Financial Officer
Rafael Ernesto Guzmán Ayala Vice President-Technical
Andrés Mantilla Vice President-Innovation & Technology
Sector and Competitors
1st jan.Capitalization (M$)
ECOPETROL SA44 633
ROYAL DUTCH SHELL2.18%294 571
PETROCHINA COMPANY-5.56%215 585
TOTAL7.94%162 893
PETROLEO BRASILEIRO SA PETROBRAS30.62%89 300
STATOIL14.95%86 651