TODAY ECOPETROL PRESENT ITS 2Q NET INCOME REPORT

TODAY ECOPETROL PRESENT ITS 2Q NET INCOME REPORT

Ecopetrol will be presenting the second quarter balance sheet with the financial results of the first semester of the year.

There have been a lot of rumors driven for the drop of the international prices of the crude WTI and Brent, but although this could be a possibility the analysts are confident that the net incomes of the company would be increased in 25% annually, but if we take into account the quarter net incomes would maintain steady.

It is expected a positive impact in the market price of the share of the company due to the results that the company will be presenting today, but we should add to this factor the fact that Ecopetrol yesterday announced the finding of hydrocarbons in one of the exploration wells in the Block Caño Sur in Puerto Gaitan where the company has the 100% of the rights over the exploratory block.

The analyst are saying that 5.000 COP$ per share is a fare price of the share, but we think that the share of Ecopetrol should reach a price between 5.150 and 5.250 COP$ per share. If you are an investor that would take risks in order to get better financial performance of its investment portfolios, we recommend you to at least follow this share for the next 10 days.