Getting Long Colombian Oil: Ecopetrol

UPDATE SOLD THE REST AT 44.54, DON’T LIKE THE WAY THE MARKET IS REACTING AND I CAN ALWAYS GET BACK IN.

Update 5/31 3:44pm, sold a tiny piece of EC +$1.50


 

Ecopetrol is Colombia’s largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 40 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.

Here are some the financial highlights:

Unconsolidated Consolidated
(COP$ Billion) 1Q 2011 * 1Q 2010 * % 1Q 2011 * 1Q 2010 * %
Total sales 12,399.2 8,741.6 41.8% 14,387.7 10,217.8 40.8%
Operating profit 5,376.7 3,198.2 68.1% 5,678.8 3,616.6 57.0%
Net Income 3,404.6 2,096.6 62.4% 3,110.3 1,954.3 59.2%
Earnings per share (COP$) 84.12 51.80
EBITDA 6,489.3 4,106.5 58.0% 6,870.4 4,454.7 54.2%
EBITDA Margin 52% 47% 48% 44%
* Not audited

The bottom line is, the stock is near a 7 month huge base breakout (44.10).

Recent Investor Presentation

POSITION LONG:



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