Ecopetrol (EC) closed at $8.23 in the latest trading session, marking a +0.98% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.4%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.63%.

The oil and natural gas exploration company's shares have seen a decrease of 10.83% over the last month, not keeping up with the Oils-Energy sector's loss of 7.82% and the S&P 500's gain of 3.76%.

Analysts and investors alike will be keeping a close eye on the performance of Ecopetrol in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.63, signifying a 3.28% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $8.02 billion, indicating a 7.53% downward movement from the same quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.04 per share and a revenue of $32.41 billion, indicating changes of -14.29% and -2.32%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ecopetrol. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.95% lower. Ecopetrol presently features a Zacks Rank of #3 (Hold).

With respect to valuation, Ecopetrol is currently being traded at a Forward P/E ratio of 4. Its industry sports an average Forward P/E of 4.98, so one might conclude that Ecopetrol is trading at a discount comparatively.

The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.