EC
EnergyEcopetrol S.A. · Oil & Gas Integrated · $28B
What is Ecopetrol S.A.?
Ecopetrol S.A. is Colombia's largest integrated energy company, with operations spanning oil and gas exploration, pipeline transport, refining, and electric power transmission. Headquartered in Bogotá, it also holds infrastructure concessions across road and energy networks.
Ecopetrol generates revenue across four main segments: Exploration and Production of crude oil and natural gas; Transport and Logistics through an extensive pipeline network; Refining, Petrochemical and Biofuels covering fuel processing and distribution; and Electric Power Transmission and Toll Roads Concessions. The company also produces polypropylene resins and compounds, distributes LPG and natural gas, and provides telecommunications and IT services to industrial customers. Its reach extends beyond Colombia into the United States, Europe, Asia, and Latin America.
Ecopetrol was incorporated in 1948 and is based in Bogotá, Colombia.
- Crude oil and natural gas exploration and production
- Pipeline transport across roughly nine thousand kilometers of infrastructure
- Fuel refining, petrochemicals, and biofuels processing
- Electric power transmission and road concession management
- Polypropylene resins, compounds, and masterbatch products
Is EC a Good Stock to Buy?
UQS Score rates EC as Below Average overall, reflecting meaningful headwinds across several key pillars.
The Quality pillar stands out as the relative bright spot within EC's profile, suggesting the underlying business retains some operational discipline. Valuation is rated Attractive, meaning the stock may be priced at a discount relative to its fundamentals — a factor worth weighing alongside the broader risk picture.
The Moat, Growth, and Risk pillars all register as Weak, pointing to limited competitive differentiation, constrained expansion prospects, and elevated exposure to macro and sector-level pressures.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does EC pay dividends?
Yes — Ecopetrol S.A. pays a dividend.
Ecopetrol pays a regular dividend, which is a notable feature for income-oriented investors considering an emerging-market energy name. As a state-influenced integrated oil company, dividend distributions have historically been tied to commodity cycles and government policy. Investors should review the company's investor relations page for the current payout schedule and any currency considerations relevant to ADR holders.
When does EC report earnings?
Ecopetrol reports earnings on a quarterly cadence, consistent with its listing obligations as a US-traded ADR.
Results have reflected the volatility inherent in integrated energy businesses — commodity price swings, refining margins, and currency movements all influence reported outcomes. The Quality pillar suggests some operational resilience, though Growth and Risk readings indicate the environment remains challenging.
For the most recent quarter's results and guidance, visit Ecopetrol's official investor relations page.
EC Price History
+107.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Ecopetrol S.A.?
Based on Ecopetrol S.A.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
EC Long-term Outlook
EC's Growth pillar is rated Weak, suggesting the near-term expansion outlook is constrained relative to broader energy sector peers. The Risk pillar also registers as Weak, meaning macro factors — including oil price volatility, Colombian regulatory shifts, and currency exposure — represent meaningful headwinds. The Attractive Valuation rating indicates the market may already be pricing in these concerns, which could limit downside but does not guarantee a near-term catalyst for re-rating.
Growth drivers
- Potential recovery in global oil and gas demand supporting upstream volumes
- Infrastructure concession expansion in Colombia's road and power transmission networks
- Downstream diversification through petrochemicals and biofuels
Key risks
- Commodity price volatility directly impacting upstream revenue and dividends
- Regulatory and political risk tied to Colombia's energy policy environment
- Currency depreciation reducing the US-dollar value of earnings for ADR investors
EC vs Peers
Ecopetrol competes within the integrated and state-linked energy space alongside several large-cap peers across the Americas.
Cenovus is a Canadian integrated oil company with a heavy focus on oil sands and downstream refining, giving it a different commodity and geographic risk profile than Ecopetrol.
YPF is Argentina's state-controlled energy giant, sharing Ecopetrol's emerging-market and government-ownership dynamics but exposed to Argentina's distinct macroeconomic volatility.
Imperial Oil operates primarily in Canada with a majority stake held by ExxonMobil, offering investors a more stable regulatory environment and a different dividend history than Ecopetrol.
Frequently Asked Questions
What does Ecopetrol do?
Ecopetrol is Colombia's largest integrated energy company. It explores for and produces crude oil and natural gas, transports hydrocarbons through an extensive pipeline network, refines fuel and petrochemical products, and operates electric power transmission and road concession infrastructure. The company also distributes LPG and natural gas and provides industrial IT services.
Does EC pay dividends?
Yes, Ecopetrol pays a regular dividend. As a state-influenced integrated oil company, its payout levels have historically tracked commodity earnings cycles and government distribution policies. ADR investors should also account for currency conversion effects. Check the company's investor relations page for the current dividend schedule.
When does EC report earnings?
Ecopetrol reports on a quarterly cadence, in line with its obligations as a US-listed ADR. Specific dates are not covered by our data source. For upcoming reporting dates, refer directly to Ecopetrol's investor relations page.
Is EC a good stock to buy?
UQS Score rates EC as Below Average overall. While the Quality pillar shows relative strength and Valuation is rated Attractive, the Moat, Growth, and Risk pillars are all Weak. That combination suggests meaningful challenges alongside a potentially discounted entry point. The complete analysis is available to Pro members.
Is EC overvalued?
The UQS Valuation pillar for EC is rated Attractive, suggesting the stock may be trading at a discount relative to its fundamental profile. However, an attractive valuation alone does not offset weak growth and risk ratings — context across all five pillars matters when assessing whether the price reflects fair value.
How does EC compare to its competitors?
Ecopetrol sits alongside state-linked and integrated energy peers such as Cenovus Energy, YPF, and Imperial Oil. Each operates in a different regulatory and geographic environment. Ecopetrol's emerging-market exposure and government ownership structure distinguish it from Canadian peers, while it shares some political-risk characteristics with YPF in Argentina.
What is EC's market cap bracket?
Ecopetrol is classified as a large-cap company. This places it among the more substantial publicly traded energy companies in Latin America, though its market capitalization reflects both the scale of its operations and the discount often applied to emerging-market state-linked enterprises.
Who founded Ecopetrol?
Ecopetrol traces its origins to 1948, when it was established as Empresa Colombiana de Petróleos by the Colombian government. The company rebranded to Ecopetrol S.A. in June 2003. Founding context and historical background are widely available through official Colombian government and company records.
Is EC a long-term quality investment?
From a long-term quality perspective, EC's UQS profile presents a mixed picture. The Quality pillar offers some support, but Weak ratings across Moat, Growth, and Risk suggest the business faces structural challenges that could limit compounding over time. Long-term investors should weigh these factors carefully alongside the Attractive Valuation rating.
What is the main competitive advantage of Ecopetrol?
Ecopetrol's primary advantages stem from its scale as Colombia's dominant integrated energy operator and its extensive pipeline infrastructure. However, the UQS Moat pillar is rated Weak, indicating that these advantages may not translate into durable pricing power or protection from commodity cycles and competitive pressures.
What sector does EC belong to?
Ecopetrol operates in the Energy sector, specifically as an integrated oil and gas company with additional exposure to petrochemicals, power transmission, and infrastructure concessions. Investors can explore other [top Energy sector stocks](/sector/energy) rated by UQS Score for broader sector context.
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Pro Analysis
EC — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 44.4 | 52.5 | 23.0 | 28.2 | 35.1 | 97.5 | +0.5 |
| May 21, 2026 | 43.9 | 52.5 | 23.0 | 25.6 | 35.1 | 97.3 | -0.5 |
| May 18, 2026 | 44.4 | 52.5 | 23.0 | 26.1 | 38.3 | 97.2 | -0.1 |
| May 16, 2026 | 44.5 | 52.5 | 23.0 | 26.1 | 38.3 | 97.6 | +0.7 |
| May 13, 2026 | 43.8 | 52.5 | 23.0 | 25.2 | 37.3 | 95.4 | 0.0 |
| May 12, 2026 | 43.8 | 52.5 | 23.0 | 24.9 | 37.3 | 95.8 | +4.0 |
| May 9, 2026 | 39.8 | 56.2 | 23.0 | 0.0 | 37.3 | 95.8 | -4.0 |
| May 7, 2026 | 43.8 | 52.5 | 23.0 | 25.3 | 37.3 | 94.9 | 0.0 |
| May 4, 2026 | 43.8 | 52.5 | 23.0 | 25.1 | 37.3 | 95.5 | -0.1 |
| May 1, 2026 | 43.9 | 52.5 | 23.0 | 25.8 | 37.3 | 95.5 | -0.5 |
EC — Pillar Breakdown
Quality
— 52.5/100 (25%)Ecopetrol S.A. has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 28.2/100 (20%)Ecopetrol S.A. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 35.1/100 (15%)Ecopetrol S.A. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 97.6/100 (15%)Ecopetrol S.A. appears attractively valued relative to its earnings, cash flows, and sector peers.
How many years of FCF the market cap represents.
Enterprise value multiple relative to sector median.
Moat
— 23/100 (25%)Ecopetrol S.A. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for EC.
Score Composition
Financial Data
More Stock Analysis
How is the EC UQS Score Calculated?
The UQS (Unified Quality Score) for Ecopetrol S.A. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Ecopetrol S.A.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Ecopetrol S.A. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.