Ecopetrol Initiates Collective Bargaining with Multiple Unions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: PRnewswire
- Collective Bargaining Initiation: Ecopetrol has filed requests for amendments to the collective bargaining agreement with multiple unions, including USO and Adeco, within the legally established timeframe, demonstrating the company's commitment to worker welfare and aiming to foster harmonious labor relations through dialogue.
- Industry Leadership: As Colombia's largest company, Ecopetrol accounts for over 60% of hydrocarbon production, reinforcing its dominant position in the energy sector, and further expanding its influence in energy transmission through the acquisition of 51.4% of ISA's shares.
- International Business Expansion: Ecopetrol's drilling and exploration operations in the U.S., Brazil, and Mexico enhance its participation in strategic basins across the Americas, boosting the company's competitiveness in international markets.
- Sustainability Commitment: The company reaffirms its commitment to open dialogue with unions, aiming to collaboratively develop sustainable solutions that promote the well-being of employees and the nation, reflecting its emphasis on social responsibility.
Analyst Views on EC
Wall Street analysts forecast EC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for EC is 7.00 USD with a low forecast of 7.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
0 Buy
0 Hold
1 Sell
Moderate Sell
Current: 10.460
Low
7.00
Averages
7.00
High
7.00
Current: 10.460
Low
7.00
Averages
7.00
High
7.00
About EC
Ecopetrol S.A. is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company's segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company's Exploration and Production segment includes exploration, development and production activities in Colombia and abroad. The Company's Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. The Company's main crude oil pipeline systems' operating capacity is approximately 1.34 million barrels per day (BPD). The Company's main refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a subsidiary of the Company. The Company also owns and operates two other minor refineries: Orito and Apiay.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
