Buy $EC - NRPicks 28 Mar

NYSE:EC   Ecopetrol S.A.
Ecopetrol S.A. operates as an integrated oil and gas company. The company operates through Exploration and Production; Transportation and Logistics; refining, petrochemical and biofuel segments. It is engaged in the exploration, production and sale of oil and gas. It also transports and distributes hydrocarbons and by-products.

An oil giant in Colombia that despite a decline in its income and profits during 2020, is estimated to increase its profits from 228% by 2021 as the global economy is re-opened.

$EC has just announced its plan to achieve zero carbon emissions by 2050, reducing direct and indirect emissions from energy purchases by 25%, and reducing total emissions associated with the value chain by 50%.

- Revenue 14B
- EBITDA 2020 4.54B
- P/S 1.69
- Dividend Yield 7.01%

- Uptrend
- Potential focus on the Energy sector
- Average RSI levels
- Price 10% above MA50
- Possible Breakout at $14
Trade closed: stop reached:
21 Abr


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