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MarketScreener Homepage  >  Equities  >  Bolsa De Valores De Colombia  >  Ecopetrol S.A.    ECOPETROL   COC04PA00016

ECOPETROL S.A.

(ECOPETROL)
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Ecopetrol S A : Colombia's Ecopetrol Q3 net profit falls precipitous 72% to $224.2 mln

10/27/2020 | 05:34pm EST

BOGOTA, Oct 27 (Reuters) - Colombian majority state-owned oil company Ecopetrol, reported a third-quarter net profit decline of 72% on Tuesday - 855 billion pesos ($224.2 million), compared with 3.01 trillion pesos in the period a year ago.

Earnings before interest, taxes, depreciation and amortization declined 37% to 5.25 trillion pesos.

"The operational and financial results for third quarter of the year reflect a better price environment, the gradual reactivation of Ecopetrol Group's integrated value chain and the progressive effect of adjustment measures taken during the first semester of the year," Ecopetrol CEO Felipe Bayon said in a statement.

Before impairments, net profit came in at 873 billion pesos.

A better balance between supply and demand at a global level allowed for a significant recovery in the average price of Brent, Bayon said.

"This allowed a strong improvement in realized prices and higher volumes of sales of crude and fuels," he said.

Total sales in the third quarter fell to 12.32 trillion pesos, from 18.01 trillion pesos a year earlier, the company said.

Production in the third quarter fell to 681,000 barrels of oil equivalent per day (bped), down from 720,000 bped in the year-earlier period, because of lower demand during the coronavirus pandemic, Ecopetrol said.

For the first nine months of the year production was 697,700 bped.

($1 = 3,812.82 Colombian pesos) (Reporting by Oliver Griffin, additional reporting by Julia Symmes Cobb Editing by Chris Reese and Grant McCool)


© Reuters 2020
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Financials
Sales 2020 47 668 B 13 776 M 13 776 M
Net income 2020 2 462 B 712 M 712 M
Net Debt 2020 41 095 B 11 877 M 11 877 M
P/E ratio 2020 39,4x
Yield 2020 7,63%
Capitalization 99 502 B 28 718 M 28 756 M
EV / Sales 2020 2,95x
EV / Sales 2021 2,40x
Nbr of Employees 15 157
Free-Float 10,7%
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Technical analysis trends ECOPETROL S.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 2 394,50 COP
Last Close Price 2 420,00 COP
Spread / Highest target 17,0%
Spread / Average Target -1,05%
Spread / Lowest Target -15,5%
EPS Revisions
Managers and Directors
NameTitle
Felipe Bayón Pardo Chief Executive Officer
Maria Catalina Escobar Hoyos Manager-Capital Markets
Luis Guillermo Echeverri Velez Chairman
Alberto Consuegra Granger Chief Operating Officer
Jaime Caballero Uribe Chief Financial Officer & Vice President
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