Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Colombian Stock Movers: Ecopetrol, Pacific Rubiales, Canacol

Feb. 17 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:14 a.m. local time.

The IGBC Index gained 0.4 percent to 14,578.32, while the Colcap Index rose 0.2 percent to 1,708.61

Ecopetrol SA (ECOPETL CB), Colombia’s largest oil company, rose 0.4 percent to 4,990 pesos, the highest since November 2007.

Fourth-quarter profit jumped 64 percent from a year ago to 4.4 trillion pesos ($2.47 billion), as crude production climbed, the company said Feb. 15. Profit exceeded the 4.36 trillion pesos average estimate of five analysts surveyed by Bloomberg.

If Ecopetrol decides to maintain its current dividend policy in a shareholder meeting next month it would have one of the highest payments by a Colombian company in 2012, Samuel David Garcia, an analyst at Valores Bancolombia, said in an e-mailed statement today.

Oil companies gained after Colombia’s exports rose 43 percent to $5.5 billion in December from the same month a year before, driven “fundamentally” by 63 percent growth of sales of oil and its derivatives, the national statistics agency reported on its Web site after the market closed yesterday.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in Colombia, gained 2.2 percent to 1,630 pesos.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, climbed 0.8 percent to 48,900 pesos.

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.