Latest news with #EcopetrolS.A
Yahoo
23-05-2025
- Business
- Yahoo
Ecopetrol Will Acquire Ten Renewable Energy Firms from Norway's Statkraft
CEO Ricardo Roa of Colombia's state-owned oil company Ecopetrol S.A. (NYSE:EC) stated on Tuesday that the two companies had reached an agreement to acquire ten wind and solar energy project development companies from Statkraft of Norway. A portfolio of renewable projects with a combined capacity of up to 1.3 gigawatts is part of the agreement, which aims to provide for the firm's domestic energy needs. There was no disclosure of the transaction's value. One project is now underway, and others have no set timeframe but are expected to begin in 2026 or 2027. Legal and regulatory approvals of the agreement are still pending. A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. The acquisition reduces Ecopetrol S.A. (NYSE:EC)'s dependency on bilateral agreements and spot market purchases while assisting with its shift to low-emission energy. The projects are spread in the departments of La Guajira, Sucre, Cordoba, Caldas, and Magdalena. Roa claims that the agreement improves the business's energy independence in a market that is very competitive. Jose Castellanos, Statkraft's Colombian representative, stated that the sale marks the Norwegian company's complete withdrawal from the Colombian market. As part of a larger move toward renewable energy, Ecopetrol S.A. (NYSE:EC) also signed an agreement with AES Colombia in April to acquire a 49% stake in the Jemeiwaa Ka'I wind cluster and is currently negotiating the purchase of another wind project with Enel of Italy. While we acknowledge the potential of EC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EC and that has 100x upside potential, check out our report about this READ NEXT: and
Globe and Mail
04-05-2025
- Business
- Globe and Mail
Ecopetrol appointed Germán González Reyes as Vice President of Corporate Affairs and Secretary General in charge of Ecopetrol S.A.
BOGOTÁ, Colombia, June 30, 2023 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC, "Ecopetrol" or the "Company") has appointed Germán González Reyes as acting Vice President of Corporate Affairs and Secretary General, effective from July 5, 2023 and until the appointment of a new Vice President of Corporate Affairs and Secretary General.
Yahoo
30-04-2025
- Business
- Yahoo
Why Ecopetrol S.A. (EC) Stock is Falling This Week
We recently published a list of Energy Stocks that are Losing This Week. In this article, we are going to take a look at where Ecopetrol S.A. (NYSE:EC) stands against other energy stocks that are declining this week. After a slight uptick, the global crude oil price fell again over the last week, declining by a little more than 5%. The West Texas Intermediate (WTI) price is currently hovering just under $60, painting a bleak outlook for the global oil industry. Investors are bracing for OPEC+ to boost output, amid worries that President Trump's tariffs would hit the global economy and slow demand for the fuel. Further adding to investor concerns, a major UK oil and gas company unveiled its Q1 2025 earnings this week, reporting a deeper-than-expected 48% drop in net profit on weaker refining and gas trading. The energy market is also awaiting two American oil supermajors to report their earnings later this week, which will present a clearer picture of the sector and its projections going forward. A sector that has been hit particularly hard by the declining crude price is that of oilfield services, which expects a sharp decline in drilling activity going forward if prices remain at current levels. It must be mentioned that short interest in the energy sector reached 2.58% in March compared to 2.52% in February, with the most shorted industry within the sector being Oil & Gas Equipment & Services. This was primarily due to the tariffs imposed by the Trump administration on steel and aluminum imports, which have raised costs and decreased margins for a sector that is already bracing for a slowdown in activity in the coming months. A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. To collect data for this article, we have referred to several stock screeners to find energy stocks that have fallen the most between April 22 to April 29, 2025. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here). Share Price Decline Between Apr. 22 and Apr. 29: 8.19% Ecopetrol S.A. (NYSE:EC) is among the largest companies in Colombia and one of the leading integrated energy groups on the American continent, present in nine countries. Ecopetrol S.A. (NYSE:EC) recently suffered a setback after the global oil giant, Shell, pulled out of three offshore gas projects in Colombia's Caribbean that it owns together with the Colombian state-run oil company. Shell's exit aligns with its global portfolio strategy and management, while Ecopetrol is now evaluating options to sustain these projects over time. The share price of Ecopetrol S.A. (NYSE:EC) has plunged by over 36% since the beginning of 2025. Overall, EC ranks 4th on our list of the energy stocks that lost the most this week. While we acknowledge the potential of energy companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than EC but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Is Ecopetrol S.A. (EC) a Small-Cap Energy Stock Hedge Funds Are Buying?
We recently published a list of the 15 Small-Cap Energy Stocks Hedge Funds Are Buying. In this article, we are going to take a look at where Ecopetrol S.A. (NYSE:EC) stands against other small-cap energy stocks. On April 12, Bill Perkins, Skylar Capital Management CEO, appeared on 'Closing Bell Overtime' on CNBC to talk about how the energy sector is struggling due to fears of decreased fuel demand. Perkins discussed that the trade policy majorly drives the sentiment across the energy landscape and hence affects natural gas, energy stocks, bonds, and other related assets. Noting the difficulty in predicting the long-term outcome of these policies, he questioned whether the tariffs are temporary. The conversation then shifted to the impact of recent tariff announcements. Perkins acknowledged that natural gas prices initially performed better than other commodities following the announcements, which gives rise to speculations that LNG could become a key bargaining chip in future trade negotiations. He explained that, at the time, natural gas fundamentals were strong, and the US had the potential to use LNG exports as a diplomatic tool to help reduce trade deficits with other countries. However, Perkins acknowledged that the overarching macroeconomic fear of a global slowdown soon overshadowed these fundamentals, which affected both the crude oil and natural gas markets. As a result, prices dropped to levels that might stimulate some demand and offer a buffer against further declines, particularly if the tariff conflict drags on and risks pushing the economy into a recession or even a depression. Perkins also addressed the effect of price pressure on production, specifically referencing West Texas Intermediate (WTI) crude oil. He pointed out that WTI prices had reached a threshold (~$60 per barrel) where growth in the Permian Basin would likely halt or even decline. At these price levels, producers become reluctant to invest in new drilling, especially given the backwardated crude curve, which showed future prices at $58 to $59 per barrel. This scenario would not only limit oil production growth in the Permian but also reduce the output of associated natural gas from the region. Perkins described this production restraint as a bullish factor that could help offset some of the prevailing uncertainty. Perkins predicted that oil and gas executives would adopt a cautious tone in their commentary. He explained that, due to the unpredictability of the global macro environment, executives would likely let market signals guide their decisions about ramping up or scaling back drilling programs. We first sifted through the Finviz stock screener and Insider Monkey's Q4 2024 hedge funds database. For this article, we define small-cap stocks as those that trade between $10 billion and $30 billion. We then selected the top 15 stocks according to hedge funds and ranked them in ascending order of the number of hedge funds that have stakes in them. In cases where an equal number of hedge funds held two or more stocks, we used the market cap as a tiebreaker. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. Market Capitalization as of April 25: $19.1 billion Number of Hedge Fund Holders: 13 Ecopetrol S.A. (NYSE:EC) is an integrated energy company that operates through four segments: Exploration & Production, Transport & Logistics, Refining & Petrochemicals, and Electric Power Transmission & Toll Roads Concessions. Its main refineries are the Barrancabermeja refinery and a refinery in the Free Trade Zone in Cartagena. In mid-February, Citi upgraded the stock's rating to Buy from Neutral, with a $14 price target, which was up from $9. Later in March, Ecopetrol announced plans to raise ~$2 billion in new debt to fund acquisitions, such as the potential deal for Enel's Windpeshi wind project. In 2024, Ecopetrol S.A. (NYSE:EC) acquired the CPO-09 field from Repsol, which added 32 million barrels of oil equivalent to its reserves, and extended its JV in the Permian Basin. Notably, the company produced a record 746,000 BOE per day in 2024, the highest level in the last 9 years. This contributed to the company's total revenue of COP133.3 trillion. Furthermore, Ecopetrol achieved a reserve replacement ratio of 104% by adding 260 million BOE in proven reserves to 2x the 2023 addition. Ecopetrol is now allocating 60% of its 2025 investment towards energy security. Overall, EC ranks 14th on our list of the small-cap energy stocks hedge funds are buying. While we acknowledge the growth potential of EC as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than EC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
07-03-2025
- Business
- Yahoo
Ecopetrol publishes draft chapter on social and environmental issues, including climate, for the year 2024
BOGOTA, Colombia, March 7, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that, in accordance with External Circular 031 of 2021 issued by the Superintendency of Finance of Colombia, it has published the draft chapter on practices, policies, processes and indicators related to social and environmental issues, including climate, which can be consulted in Spanish on Ecopetrol's website. Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. For more information, please contact: Head of Capital MarketsCarolina Tovar AragónEmail: investors@ Head of Corporate Communications (Colombia)Marcela Ulloa Email: View original content to download multimedia: SOURCE Ecopetrol S.A. Sign in to access your portfolio
