Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Ecopetrol S.A. : Colombia Stocks Rise; Peso Falls To Six-Week Low

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/29/2012 | 11:16pm CEST

Colombian stocks rose to a nine-month high Thursday while the peso fell to a six-week low on bets Colombia's monetary authorities may be preparing new measures to weaken the currency.

The Colcap index, the benchmark for the Colombian Stock Exchange, climbed 0.81% to end at 1,751.47 points, its highest closing level since June 10. The index is 12% higher this year, erasing most of last year's 14% decline.

Shares of national oil company Ecopetrol (ECOPETROL.BO, EC) rose 1.9% to an all-time high of COP5,480. Wednesday, Colombia's government said Ecopetrol soon will start exploring and drilling for oil in Venezuela, a move that could boost the company's reserves and output.

Meanwhile, the Colombian peso closed at COP1,792.00 per dollar, 1% weaker from the day-earlier close of COP1,773.80, according to Set-FX. Thursday's closing level was the currency's weakest since Feb. 15.

The peso started the session weaker on concerns over the global economy after the release of a report showing lower-than-forecast U.S. economic growth. Colombia's currency continued to weaken throughout the day on market concerns the local government or central bank may enact new measures to stem the peso's medium-term strength. It is up 9% against the dollar since Jan. 1.

"Pressures from [Colombian] industry and exporters will rise if the exchange rate drops below COP1,750 and approaches 1,700 to the dollar," the Eurasia Group said in a research note. "While the central bank will likely first undertake a more aggressive reserve accumulation strategy, the [President Juan Manuel] Santos administration could very well push for additional measures, such as capital controls, in order to contain growing political pressures from exporters."

-By Dan Molinski, Dow Jones Newswires; 57-310-867-6542; dan.molinski@dowjones.com

-0- 
 

(MORE TO FOLLOW) Dow Jones Newswires

03-29-12 1715ET

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ECOPETROL SA
08/18 ECOPETROL : establishes new subsidiary in Mexico
08/17 ECOPETROL : Board of Directors Appoints New President
08/16 ECOPETROL : establishes new subsidiary in México
08/12 ECOPETROL : signs contingent credit line with local bank for COP $ 990 billion
08/09 ECOPETROL SA : Investor Network: Ecopetrol SA to Host Earnings Call
08/09 ECOPETROL : Business Group presents its Second Quarter and First Half 2017 Resul..
08/09 ECOPETROL : Announces Timing of the Second Quarter of 2017 Earnings Report and C..
08/04 ECOPETROL : Petronas awarded another block in mexico
08/04 ECOPETROL : Malaysias Petronas says awarded shallow-water oil and gas block in M..
08/04DJSHIRE PLC SHIRE PLC : Half-yearly Report -2-
More news
News from SeekingAlpha
08/17 Echeverry to depart Ecopetrol; Bayón to take over as new CEO
08/14 PENTANOVA ENERGY : The Next SuperNova In The Oil Patch
08/10 Ecopetrol S.A. 2017 Q2 - Results - Earnings Call Slides
08/10 Ecopetrol's (EC) CEO Juan Carlos Echeverry on Q2 2017 Results - Earnings Call..
08/09 Ecopetrol reports Q2 results
Financials ( COP)
Sales 2017 53 112 836 M
EBIT 2017 13 006 376 M
Net income 2017 3 796 000 M
Debt 2017 42 909 046 M
Yield 2017 2,93%
P/E ratio 2017 14,05
P/E ratio 2018 8,06
EV / Sales 2017 1,87x
EV / Sales 2018 1,72x
Capitalization 56 329 872 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 9
Average target price 1 402  COP
Spread / Average Target 2,3%
EPS Revisions
Managers
NameTitle
Juan Carlos Echeverry Garzón President & Chief Executive Officer
Carlos Alfredo Cure Cure Chairman
Felipe Bayón Pardo Chief Operations Officer
María Fernanda Suárez Londoño Chief Financial Officer
Andrés Mantilla Vice President-Innovation & Technology
Sector and Competitors
1st jan.Capitalization (M$)
ECOPETROL SA18 927
ROYAL DUTCH SHELL-11.03%228 167
PETROCHINA COMPANY LIMITED0.00%207 860
TOTAL-12.19%128 278
STATOIL-8.78%61 112
PETROLEO BRASILEIRO SA PETROBRAS-8.54%58 196