Ecopetrol S.A. (EC) Stock Price & How to Invest
Last updated July 2026
Short answer
EC is the NYSE-listed ADR of Ecopetrol S.A., Colombia's majority state-owned integrated oil, gas, and energy-transmission company, and it trades as a high-dividend, deep-value emerging-markets energy name whose returns hinge on oil prices, the Colombian peso, and government policy. Investors typically hold it for income and commodity exposure rather than growth, with the caveat that Bogota, which owns roughly 88 percent, sets much of the agenda.
EC stock price
As of 2026-07-27, Ecopetrol S.A. (EC) last closed at $15.80, up 84.4% over the past year. Over the past 52 weeks it has traded between $8.29 and $16.69.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Ecopetrol S.A.'s investor relations page. Walnut is informational, not investment advice.
What does Ecopetrol S.A. (EC) do?
Ecopetrol S.A. is Colombia's largest company and one of the main integrated energy groups in the Americas, responsible for more than 60 percent of the country's hydrocarbon production and most of its transportation, logistics, and refining systems. Beyond upstream oil and gas, it holds leading positions in petrochemicals and gas distribution, runs exploration and production interests abroad (the U.S. Permian basin and Gulf of Mexico, Brazil, and Mexico), and, through its 51.4 percent stake in ISA, participates in power transmission, real-time grid management (XM), and toll-road concessions. The Colombian government owns roughly 88 percent of the shares, so EC functions as a national oil champion as much as a commercial enterprise.
The investment picture is that of a cheap, cash-generative commodity producer that pays out a large share of earnings as dividends. EC typically trades at a low single-digit earnings multiple and a high dividend yield, reflecting both its profitability and the discount investors demand for emerging-market and state-control risk. The upside case rests on firm oil prices, disciplined costs, strong refining margins, and diversification into transmission; the downside case centers on falling crude, peso volatility, heavy taxation, reserve-replacement challenges, and an unpredictable policy environment under a government that is both majority owner and regulator.
What's driving Ecopetrol S.A. (EC)?
1. Oil price and refining leverage
As an integrated producer, EC's earnings and cash flow move closely with Brent crude and downstream margins. Q1 2026 showed an EBITDA margin near 47 percent, helped by a strong refining business and cost discipline. Sustained firm prices support the dividend, while a downturn would compress both earnings and payouts.
2. High dividend and cash returns
Ecopetrol has a long record of large distributions, with a payout ratio that has run around 50 percent of net income and yields that have historically ranged from mid-single digits into the double digits depending on the share price and oil cycle. The dividend is a central part of the total-return case, but it is variable and tied to annual profits.
3. Diversification through ISA and gas
The 51.4 percent stake in ISA adds regulated power-transmission, grid-management, and toll-road cash flows that are less correlated with crude prices. Together with petrochemicals and gas distribution, this gives EC a more stable earnings layer than a pure upstream producer and supports the strategy of transitioning toward energy more broadly.
4. Colombian energy policy and reserves
Colombia's government has signaled caution on new oil exploration, which pressures Ecopetrol's long-term reserve replacement and pushes it toward gas, international basins like the Permian, and lower-carbon investments. How the company offsets a maturing domestic base will shape production and value over the coming years.
What are the risks to Ecopetrol S.A. (EC)?
EC carries concentrated exposure to oil prices, so a crude downturn would hit revenue, earnings, and the dividend at the same time. Roughly 88 percent state ownership means the Colombian government controls the board and can steer dividends, capital spending, taxation, and strategy toward political rather than shareholder aims. Currency risk is significant because most costs and reporting are in pesos while oil sells in dollars, and a strengthening peso can compress reported earnings. The company also faces reserve-replacement pressure from a policy stance discouraging new exploration, high domestic tax and royalty burdens, and country-specific governance and political risk, including a reported criminal investigation in Colombia involving its president. Emerging-market volatility can amplify all of these factors.
How is Ecopetrol S.A. (EC) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Ecopetrol S.A.'s investor relations page or your broker.
- Revenue (TTM): ~$30B
- Q1 2026 revenue: ~COP 28.6T (~$7B)
- EBITDA margin: ~47%
- Market cap: ~$26B
- Dividend yield: ~5-9% (variable)
- P/E: ~5x (low single digits)
Ecopetrol reported first-quarter 2026 revenue of about COP 28.6 trillion, EBITDA near COP 13.5 trillion, and net income around COP 2.9 trillion, beating expectations on strong refining margins. The stock consistently trades at a low earnings multiple and a high dividend yield, a valuation that reflects both its cash generation and the discount investors apply for emerging-market, commodity, and state-control risk. Figures are approximate and depend heavily on oil prices and the peso exchange rate.
Who competes with Ecopetrol S.A. (EC)?
Latin American national oil companies
State-linked integrated majors such as Petrobras (Brazil) and Pemex (Mexico) are the closest peers, sharing EC's mix of government ownership, commodity exposure, and emerging-market energy politics, and competing for the same regional resource opportunities and investor capital.
Global integrated oil majors
Larger diversified producers like ExxonMobil, Chevron, Shell, and TotalEnergies operate the same upstream-to-downstream value chain at global scale, offering investors alternative oil exposure with more geographic diversification and, generally, lower single-country policy risk.
Energy transmission and infrastructure
Through its ISA stake, EC competes and overlaps with regulated power-transmission and infrastructure operators across the Americas, a segment that gives it steadier, less oil-correlated cash flows than pure exploration-and-production companies.
How to invest in Ecopetrol S.A. (EC)
There are three common ways to get EC exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so EC sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where EC fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Ecopetrol S.A. (EC)
EC offers cheap, high-yield exposure to an integrated Latin American oil major, with the trade-off that state ownership, oil-price swings, and Colombian energy politics drive much of the story.
More on Ecopetrol S.A. (EC)
Whether EC is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is EC a buy?, and where the stock could go from here in the EC stock forecast.
For income investors, whether EC pays a dividend and how the payout looks is covered in does EC pay a dividend?
Build a basket around EC with Walnut
Use Ecopetrol S.A. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Ecopetrol (EC) do?
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Ecopetrol is Colombia's largest company and an integrated energy group covering oil and gas exploration and production, refining, transportation, petrochemicals, and gas distribution. Through its majority stake in ISA it also operates power transmission and toll-road concessions across parts of the Americas.
Is EC a state-owned company?
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Yes. The Colombian government owns roughly 88 percent of Ecopetrol, so it functions as a national oil champion. The state controls the board and heavily influences dividends, capital spending, and strategy, which is a key consideration for outside investors.
Does EC pay a dividend?
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Ecopetrol has a long history of large dividends, historically paying out around half of net income. The yield has ranged from mid-single digits into double digits depending on the share price and oil cycle, but the payout is variable and tied to annual profits.
Why does EC trade at such a low valuation?
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EC typically trades at a low single-digit earnings multiple. The market applies a discount for emerging-market risk, concentrated oil-price exposure, currency volatility, high taxation, and the fact that the Colombian government is both the majority owner and the regulator.
How did Ecopetrol perform in Q1 2026?
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Ecopetrol reported first-quarter 2026 revenue of about COP 28.6 trillion, EBITDA near COP 13.5 trillion, and net income around COP 2.9 trillion. Results beat expectations, driven by strong refining margins and cost discipline, with the EBITDA margin near 47 percent.
What are the main risks of owning EC?
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The biggest risks are falling oil prices, peso currency swings, and Colombian government control over strategy and dividends. Additional concerns include reserve-replacement pressure from limits on new exploration, high taxes and royalties, and country-specific political and governance risk.
How does EC differ from Petrobras or ExxonMobil?
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Petrobras is the closest peer, another state-controlled Latin American integrated major with similar commodity and policy dynamics. Global majors like ExxonMobil are far larger and more geographically diversified, offering oil exposure with generally lower single-country risk than Ecopetrol.
Is EC a growth or an income stock?
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EC is generally viewed as an income and value stock rather than a growth name. Investors typically hold it for its high dividend and cheap valuation and for commodity exposure, rather than expecting rapid production or earnings growth.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Ecopetrol S.A.'s investor relations page or your broker before making investment decisions.