In the latest trading session, Ecopetrol (EC) closed at $7.70, marking a -1.41% move from the previous day. This change was narrower than the S&P 500's 1.86% loss on the day. Elsewhere, the Dow lost 0.9%, while the tech-heavy Nasdaq lost 2.76%.

Shares of the oil and natural gas exploration company have depreciated by 13.32% over the course of the past month, underperforming the Oils-Energy sector's loss of 0.42% and the S&P 500's gain of 1.01%.

Market participants will be closely following the financial results of Ecopetrol in its upcoming release. The company is predicted to post an EPS of $0.64, indicating a 4.92% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.02 billion, down 7.53% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2 per share and revenue of $32.27 billion. These totals would mark changes of -15.97% and -2.74%, respectively, from last year.

Investors should also take note of any recent adjustments to analyst estimates for Ecopetrol. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 3.16% lower within the past month. Currently, Ecopetrol is carrying a Zacks Rank of #3 (Hold).

From a valuation perspective, Ecopetrol is currently exchanging hands at a Forward P/E ratio of 3.91. This denotes a discount relative to the industry's average Forward P/E of 4.64.

The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 98, positioning it in the top 39% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.