Added to YB: 2022-10-21
Pitch date: 2022-10-21
EC [bullish]
Ecopetrol S.A.
Author Info
No bio for this author
Company Info
Ecopetrol S.A. operates as an integrated energy company. It operates through four segments: Exploration and Production; Transport and Logistics; Refining and Petrochemicals; and Energy transmission and Toll Roads Concessions.
Market Cap
COP 112.9T
Pitch Price
N/A
Price Target
N/A
Dividend
4.01%
EV/EBITDA
4.59
P/E
8.65
EV/Sales
1.81
Sector
Oil, Gas and Consumable Fuels
Category
dividend
Ecopetrol (NYSE:EC)
EC: Colombian state oil major, sole Colombian resource co author deems investable. Record EBITDA (quarterly now = annual in 2010s), >20% dividend yield; state (Petro) controls & wants big dividends. Diversified: GoM oil, 400k bpd refining, 9,000km pipelines, 18% EBITDA non-fossil (toll roads, transmission, renewables, LNG). Risks: <few yrs reserve life, drilling banned until 2026, royalty deductibility removal (royalties + 33% tax), nationalization risk.
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