Ecopetrol S.A. operates as an integrated oil and gas company. The company operates through three segments: Exploration and Production; Transport and Logistics; and Refining, Petrochemical and Biofuels. It engages in the exploration, production, and sale of oil and gas; offshore exploration; energy supply services; specialized management services; and distribution of natural gas and LPG activities. It also transports and distributes hydrocarbons and derivative products. As of December 31, 2020, the company had approximately 9,127 kilometers of crude oil and multi-purpose pipelines. In addition, the company manufactures and commercializes polypropylene resins, compounds, and masterbatches; and offers refined and petrochemical products, and biofuels, as well as industrial service sales to customers. It has operations in Colombia, the United States, Asia, Central America and the Caribbean, Europe, South America, and internationally. Ecopetrol S.A. has a strategic alliance with Occidental Petroleum Corporation. The company was formerly known as Empresa Colombiana de Petróleos and changed its name to Ecopetrol S.A. in June 2003. Ecopetrol S.A. was incorporated in 1948 and is based in Bogotá, Colombia.
IPO Year:
Exchange: NYSE
Website: ecopetrol.com.co
Date | Price Target | Rating | Analyst |
---|---|---|---|
9/25/2024 | $12.00 → $8.50 | Neutral → Underweight | JP Morgan |
5/30/2024 | Neutral → Underperform | BofA Securities | |
3/4/2024 | $11.00 → $8.50 | Equal-Weight → Underweight | Morgan Stanley |
9/21/2023 | $11.20 | Underperform | Jefferies |
9/13/2023 | Buy → Neutral | Citigroup | |
8/23/2023 | $11.50 | Neutral | BofA Securities |
2/10/2023 | $12.50 → $12.00 | Buy → Hold | HSBC Securities |
2/9/2023 | $13.00 | Buy → Neutral | UBS |
3/2/2022 | Overweight → Equal-Weight | Morgan Stanley | |
12/16/2021 | $14.70 | Buy → Neutral | Goldman Sachs |
6-K - ECOPETROL S.A. (0001444406) (Filer)
25-NSE - ECOPETROL S.A. (0001444406) (Subject)
6-K - ECOPETROL S.A. (0001444406) (Filer)
6-K - ECOPETROL S.A. (0001444406) (Filer)
6-K - ECOPETROL S.A. (0001444406) (Filer)
6-K - ECOPETROL S.A. (0001444406) (Filer)
6-K - ECOPETROL S.A. (0001444406) (Filer)
6-K - ECOPETROL S.A. (0001444406) (Filer)
6-K - ECOPETROL S.A. (0001444406) (Filer)
CERT - ECOPETROL S.A. (0001444406) (Filer)
BOGOTA, Colombia, Nov. 21, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) (the "Company") informs that today it completed the redemption of the aggregate principal amount outstanding of its 5.375% notes due 2026, which were originally issued in 2015. The repurchase price of this bond was USD 1,007.63 for each USD 1,000 of principal outstanding, amounting to USD 450,579,892 for the aggregate principal amount outstanding, plus accrued interest up to the date. With this early payment, the aggregate principal amount outstanding of the Company's 5.375% notes due 202
BOGOTA, Colombia, Nov. 20, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) ("Ecopetrol") reports that it has published its fourth TCFD report covering developments from 2023 and the first half of 2024. The report highlights progress in strengthening climate-related risk and opportunity management processes through discussions on Governance, Strategy, Risks and Metrics and Targets. Consistent with international best practices, Ecopetrol has published this fourth report following the recommendations issued by the Financial Stability Board's Task Force on Climate-R
BOGOTA, Colombia, Nov. 8, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) (the "Company" or "Ecopetrol") informs that Fitch Ratings reported on November 6, 2024, that it has maintained the global credit rating of the Company at BB+ with a stable outlook. Additionally, the agency has downgraded the Standalone Credit Profile ("SCP") from 'bbb' to 'bbb-' and affirmed the national long-term and short-term ratings of Ecopetrol at 'AAA (col)' with a Stable Outlook and 'F1+(col)', respectively. Fitch noted that the global rating of 'BB+' reflects the stable operational condition of the Company as the leading producer of oil and gas in Colombia, as well as its significant energy tra
BOGOTA, Colombia, Nov. 7, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) (the "Company") informs that, as previously announced, on Thursday, November 14, 2024, the Company's management will hold a single virtual conference with broadcasts in Spanish and English to discuss its financial and operating results for the third quarter of 2024. Given the change to Standard Time in the United States, the previously announced time for the conference call has changed to the one indicated below: Conference Call 09:00 a.m. Col Time 09:00 a.m. NY Time To access the webcast, the following link will be available:https://xegmenta.co/ecopetrol/conferencia-de-resultados-3t-2024/ Once you re
BOGOTA, Colombia, Oct. 31, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that the Santa Marta Tribunal (the "Tribunal") issued a favorable decision regarding an appeal against the claim (acción de tutela) filed by the Indigenous Council of Taganga. The Tribunal's decision partially overturned the ruling of the Fourth Labor Court of the Santa Marta Circuit which had ordered the suspension of exploration and production works in the "Tayrona exploratory drilling area at the Uchuva 2 well." Additionally, the Tribunal ordered the Ministry of the Interior – Directorate of the National Authority for Prior Consultation (DANCP) to assess the necessity of a prior consultati
BOGOTA, Colombia, Oct. 31, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that after market close on Wednesday, November 13, 2024, it plans to release its financial and operating results for the third quarter of 2024. On Thursday, November 14, 2024, Ecopetrol's senior management plans to host a single virtual conference call to review the results, with transmission in Spanish and English. Please find below the time and links to access the conference: Conference Call 09:00 a.m. Col Time 10:00 a.m. NY Time To access the webcast, the following link wil
BOGOTA, Colombia, Oct. 29, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) ("Ecopetrol" or the "Company") announces that, continuing with its comprehensive debt management strategy, it will redeem the outstanding balance of its 5.375% notes maturing in June 2026 (CUSIP: 279158 AL3 / ISIN: US279158AL39) (the "2026 Notes"), which were issued in 2015. The outstanding balance of the 2026 Notes is USD 447,168,000. The expected redemption date of the 2026 Notes is November 21, 2024. The redemption price is expected to be approximately USD 1,010.31 per USD 1,000.00 principal amount outstanding (preliminarily calculated at USD 451,778,154.18 for 100% of the 2026 Notes outstanding), p
BOGOTÁ, Colombia, Oct. 21, 2024 /PRNewswire/ -- Ecopetrol S.A. ("Ecopetrol" or the "Company") (NYSE:EC) announced today the results of the previously announced cash tender offer (the "Offer") by Ecopetrol, to purchase any and all of its outstanding 5.375% Notes due 2026 (the "Securities"). The Offer expired on October 16, 2024, at 5:00 p.m., New York City time (the "Expiration Time"). The Offer was made solely pursuant to the Offer to Purchase (as the same was amended by means of press release published on October 16, 2024, the "Offer to Purchase") and the related Notice of Guaranteed Delivery (the "Notice of Guaranteed Delivery"), each dated October 8, 2024. Ecopetrol was advised by Global
BOGOTA, Colombia, Oct. 18, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that the following senior management appointment was made effective as of October 16, 2024: Carlos Mauricio Avila Saldarriaga has been appointed as Vice President of Subsidiaries and Assets with Partners. Carlos is a Petroleum Engineer from Universidad América, with further education in finance, project management and production operations. He has more than 28 years of experience in the hydrocarbons sector. He started his career in Ecopetrol as a Production Engineer and pursued other management positions in the New Business division. Additionally, he has held leadership roles in companies suc
BOGOTÁ, COLOMBIA, Oct. 16, 2024 /PRNewswire/ -- Ecopetrol S.A. ("Ecopetrol" or the "Company") (NYSE:EC) announced today the tender offer consideration (the "Total Consideration") payable in connection with the previously announced cash tender offer (the "Offer") by Ecopetrol, which commenced on October 8, 2024, to purchase any and all of its outstanding 5.375% Notes due 2026 (the "Securities"), upon the terms and subject to the conditions set forth in Ecopetrol's Offer to Purchase, dated October 8, 2024 (as the same was amended by means of press release published on October 16, 2024 and may be amended or supplemented from time to time, the "Offer to Purchase") and in the related Notice of Gu
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The loan is expected to be executed with Banco de Bogotá S.A. (COP 642 billion), Banco de Occidente S.A. (COP 208 billion) and Banco Popular S.A. (COP 150 billion), as lenders. The term of the loan is expected to be seven (7) years, with a grace period of two (2) years from the date of the first disbursement. The amortization is expected to be made in ten (10) equal semi-annual installments once the grace period is over and the interest rate is expected to be indexed to the IBR in the terms previously agreed with the banks. Aligned with the 2024 financing plan and maintaining the gross debt/EBITDA target for the year, the resources of this operation will be used for non-investment expenses,
Ecopetrol S.A. (NYSE: EC) is reportedly analyzing its potential direct participation in the Andean country’s first-ever offshore wind auction. The government of President Gustavo Petro, Colombia’s first leftist leader, stated that it wants to reduce the Andean country’s dependence on fossil fuels along with ensuring energy self-sufficiency, reported Reuters. The bidders in the auction for concessions off the country’s Caribbean coast are mandated to demonstrate some sort of partnership deal with a public or mixed-ownership company in order to be awarded a concession. The energy minister Andres Camacho told Reuters in December that potential private bidders will be able to choose fro
-SEC Filing
Goldman Sachs analyst Bruno Amorim maintains Ecopetrol (NYSE:EC) with a Neutral and raises the price target from $10.3 to $11.9.
JP Morgan downgraded Ecopetrol from Neutral to Underweight and set a new price target of $8.50 from $12.00 previously
BofA Securities downgraded Ecopetrol from Neutral to Underperform
Morgan Stanley downgraded Ecopetrol from Equal-Weight to Underweight and set a new price target of $8.50 from $11.00 previously
Jefferies initiated coverage of Ecopetrol with a rating of Underperform and set a new price target of $11.20
Citigroup downgraded Ecopetrol from Buy to Neutral
BofA Securities resumed coverage of Ecopetrol with a rating of Neutral and set a new price target of $11.50
HSBC Securities downgraded Ecopetrol from Buy to Hold and set a new price target of $12.00 from $12.50 previously
UBS downgraded Ecopetrol from Buy to Neutral and set a new price target of $13.00
Morgan Stanley downgraded Ecopetrol from Overweight to Equal-Weight
Goldman Sachs downgraded Ecopetrol from Buy to Neutral and set a new price target of $14.70
BOGOTA, Colombia, Sept. 3, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) ("Ecopetrol" or the "Company") announces that the Board of Directors made the following appointments on August 30, 2024: David Alfredo Riaño Alarcón, Executive Vice President of Energy Transition, as legal and alternate commercial representative.Camilo Barco Muñoz, Corporate Vice President of Finance and Sustainable Value, as alternate legal and commercial representative.Cristina Toro Restrepo, Corporate Legal Vice President, as alternate legal and commercial representative.Ecopetrol also
BOGOTA, Colombia, June 28, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) ("Ecopetrol" or the "Company") informs that the Board of Directors, in its meeting held on June 28, 2024 adopted the following decisions: As part of the implementation of the new organizational structure, approved and reported on June 6, 2024, the following appointments were made: Sandra Lucía Rodríguez, who currently serves as Vice President of Sustainable Territorial Development, will be in charge of the Corporate Vice Presidency of Territorial Transformation and Health Safety and the Environment.Jaime Pineda, who currently serves as Vice President of Procurement and Services, will be in charge of th
BOGOTA, Colombia, June 5, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) reports that on May 29, 2024, the second-call ordinary meetings for the bondholders of local bond issuances made in 2010 and 2013 were held. These meetings were previously convened by the representatives of the bondholders, Alianza Valores Fiduciaria S.A. and Itaú Fiduciaria Colombia S.A. (the "Representatives"), through a widely circulated newspaper on May 21, 2024. The Representatives conducted the second call for bondholders' meetings with the purpose of submitting for consideration the statutory amendment approved by Ecopetrol's Ordinary General Shareholders' Meeting on March 22, 2024, in accordance
BOGOTÁ, Colombia, May 21, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) informs that, as reported yesterday, May 20, 2024, the quorum required to hold the ordinary meeting of holders of Ecopetrol's bonds issued in 2010 and 2013 were not met. Such meetings had previously been called by Alianza Valores Fiduciaria S.A. and Itaú Fiduciaria Colombia S.A., as representatives of holders of the 2010 and 2013 bonds, respectively (the "Representatives"). For the above reason, the Representatives have made a second call to the aforementioned bondholder assemblies, to submit for their consideration the statutory reform approved by the Ordinary General Assembly of Ecopetrol Shareholders
BOGOTA, Colombia, May 10, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) informs that, in light of the statutory reform approved by its Shareholders' during their ordinary meeting held on March 22, 2024, its local bondholders are summoned to consider said reform, in compliance with Colombian regulations applicable to securities issuers, particularly Article 6.4.1.1.42 of Decree 2555 of 2010. For this purpose, Itaú Fiduciaria Colombia S.A. and Alianza Valores Fiduciaria S.A., entities acting as representatives of the holders of the local bonds issued by Ecopetro
BOGOTA, Colombia, April 26, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that the Board of Directors, at its meeting held on April 26, 2024, made the following appointments in property: 1. Felipe Trujillo López as Vice President Commercial and Marketing, effective as of this date. Dr. Trujillo has been in charge of this Vice-Presidency since January 20, 2024. He is an Industrial Engineer from Universidad Javeriana, specialist in Strategic Marketing from CESA and Master in Business Administration from Universidad de los Andes. He has 25 years of expe
BOGOTA, Colombia, March 25, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) informs that during the ordinary General Shareholders' Meeting held on March 22, 2024, after giving notice to its shareholders and complying with the legal requirements to carry out the session, the shareholders cast their votes on each of the items on the agenda as follows: Matter Submitted for Consideration of the Shareholders' Meeting Voting for the first proposal to approve the agenda included in the call Voting for the second proposal to remove item 16 (Election of members of the Board of Directors for the remainder of the 2021-2025 period) and item 17 (Presentation and approval of statutory re
BOGOTA, Colombia, Feb. 15, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) ("Ecopetrol" or the "Company") informs that to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendence of Colombia (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the implementation of the measures described below which are aimed at guaranteeing the adequate representation of shareholders at the Ordinary General Shareholder's Meeting to be held on March 22, 2024. The Board instructed the Company's management to: Inform shareholders of their right to be represented through the appointment of a proxy and indicate the l
BOGOTA, Colombia, Feb. 15, 2024 /PRNewswire/ -- The Chief Executive Officer of Ecopetrol S.A. hereby summons all Shareholders to the ordinary Assembly of the General Shareholders Meeting to be held on Friday, March 22, 2024, starting at 2:00 p.m., at the Centro Internacional de Negocios y Exposiciones (Corferias), located on Carrera 37 No. 24 - 67 in Bogota, D.C. The agenda for the meeting will be the following: 1. Safety guidelines 10. Presentation and consideration of the individual and consolidated audited financial statements as of December 31, 2023 2. Quorum verification
BOGOTA, Colombia, Jan. 11, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) reports that during the extraordinary general shareholders' meeting held on January 10, 2024, previously called in accordance with the legal and statutory requirements applicable to the Company, the shareholders approved the amendment to the bylaws proposed by the majority shareholder, in accordance with the provisions of article 187, paragraph 1, of the Commercial Code. Additionally, as informed by the secretary of the meeting, shareholders ruled on the other points on the agenda as shown below:
BOGOTA, Colombia, Nov. 7, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) (the "Company") informs that, as previously announced, on Thursday, November 14, 2024, the Company's management will hold a single virtual conference with broadcasts in Spanish and English to discuss its financial and operating results for the third quarter of 2024. Given the change to Standard Time in the United States, the previously announced time for the conference call has changed to the one indicated below: Conference Call 09:00 a.m. Col Time 09:00 a.m. NY Time To access the webcast, the following link will be available:https://xegmenta.co/ecopetrol/conferencia-de-resultados-3t-2024/ Once you re
BOGOTA, Colombia, Oct. 31, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that after market close on Wednesday, November 13, 2024, it plans to release its financial and operating results for the third quarter of 2024. On Thursday, November 14, 2024, Ecopetrol's senior management plans to host a single virtual conference call to review the results, with transmission in Spanish and English. Please find below the time and links to access the conference: Conference Call 09:00 a.m. Col Time 10:00 a.m. NY Time To access the webcast, the following link wil
BOGOTA, Colombia , Sept. 3, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL) (NYSE:EC) ("Ecopetrol" or the "Company") announces that the directors Juan José Echavarría and Luis Alberto Zuleta presented their resignations as independent members of the Company's Board of Directors, in the terms of the communication that the media previously released to the public. This resignation was presented and made known to the Board of Directors on August 30, 2024. This resignation will become effective on the date that the minutes of the previous meetings of the Board of Directors and Support Committees in which they participated are approved. The Company informs that the content of the following re
BOGOTÁ, Colombia, Aug. 13, 2024 /PRNewswire/ -- During the Second Quarter of 2024 (2Q24), Ecopetrol Group confronted a challenging environment, which continues to be impacted by several external variables, including the revaluation of the Colombian peso, inflationary pressures, and a decrease in the prices of our refined products. We managed these challenges with resilience, maximizing operational savings, controlling costs, and improving the realization prices of our crude oil. During 2Q24, Ecopetrol generated revenues of COP 32.6 trillion, an EBITDA of COP 14.1 trillion, a n
BOGOTA, Colombia, July 30, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that after market close on Tuesday, August 13, 2024, it plans to release its financial and operating results for the second quarter of 2024. On Wednesday, August 14, 2024, Ecopetrol's senior management plans to host a single virtual conference call to review the results, with transmission in Spanish and English. Please find below the time and links to access the conference: Conference Call 09:00 a.m. Col Time 10:00 a.m. NY Time To access the webcast, the following link will be available: https://xegmenta.co/ecopetrol/conferencia-de-resultados-2t-2024/ Once you receive the invitation, you wil
BOGOTA, Colombia, May 23, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) ("Ecopetrol" or the "Company") reports that credit rating agency Moody's downgraded its global credit rating from Baa3 to Ba1 and changed the outlook from negative to stable. Additionally, the agency reduced the individual rating (BCA1) from Ba3 to B1. The decision to modify the individual rating was based primarily on its review of debt management, dividend distribution above the Company's policy and cash generation expectations in 2025. Moody's mentioned that the overall Ba1 rating reflects the Company's position as Colombia's principal producer of oil and gas, as well as its significant power transmi
BOGOTA, Colombia, April 25, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that after market close on Tuesday, May 7, 2024, it will release its financial and operating results for the first quarter of 2024. On Wednesday, May 8, 2024, Ecopetrol's senior management will host a single virtual conference call to review the results, with transmission in Spanish and English. Please find below the time and links to access the conference: Conference Call 09:00 a.m. Col Time 10:00 a.m. NY Time To access the webcast, the following link will be available: https
BOGOTA, Colombia, March 25, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) informs that its shareholders, during the General Ordinary Shareholders' Meeting, held on March 22, 2024, approved the distribution of dividends as follows: an ordinary dividend of two hundred and seventy-eight pesos (COP $278) per share and an extraordinary dividend of thirty-four pesos (COP $34) per share, for a total dividend distribution of three hundred and twelve pesos (COP $312) per share. The payment of the ordinary and extraordinary dividend to minority shareholders will be made in two installments of equal value, on the following dates: April 3, 2024 and June 26, 2024. The payment to the majo
BOGOTA, Colombia, Feb. 29, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) ("Ecopetrol" or the "Company") hereby communicates the Company's proposal for the distribution of 2023 earnings, which has been approved by the Company's board of directors, and will be submitted for the consideration of the General Shareholders' Meeting that will take place on March 22, 2024: 2023 EARNINGS DISTRIBUTION PROPOSAL (Colombian Pesos- COP) Net income after provision for income tax 19,062,090,905,658 + Release of reserves from previous years 8,174,839,184,265 Occasional reserve for sustainability 7,665,757,580,902 Excess fiscal depreciation reserve (Art.130 ET.) 509,081,603,363 - Legal res
BOGOTA, Colombia, Feb. 15, 2024 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that after market close on Thursday, February 29, 2024, it will release its financial and operating results for the fourth quarter and full year 2023. On Friday, March 1, 2024, Ecopetrol's senior management will host a single virtual conference call to review the results, with transmission in Spanish and English. Please find below the time and links to access the conference: Conference Call 09:00 a.m. Col Time 09:00 a.m. NY Time To access the webcast, the following link will be available: https://xegmenta.co/ecopetrol/conferencia-de-resultados-4t-2023/ Once you receive the invitation, you wi