There is much expectation around the evolution of the roles of Ecopetrol (EC) in the Colombian market, longer than the oil company one of the main companies quoted in the bag of values of Colombia – would be by issuing a new package of actions, and it might be favoured by the increase in the price of crude oil and its new expansion plan. In addition, there are rumors about a new package of bonds that would take the company to the market in the year 2011 to expand its sources of funding. The first day of December of the last year, Ecopetrol issued bonds by 1 million Colombian pesos, and demand has exceeded 3.5 times the amount offered. However, for now, with regard to the alleged new bond package, there are only rumors: at the official level, the company says only that they are evaluating various possibilities, also taking into account the market conditions and the qualification of the country. Despite high expectations, the waters are somewhat divided among experts. For some analysts, the new placements in the stock market created a climate of uncertainty about what will happen with this title during 2011: consider that it could be an oversupply, which would lead to a stagnation in the price of the stock.
As well and all, the pessimists believe that the effect of the fall could be reversed by the end of the first quarter of 2011. But there are also experts who continue to see a high potential of valuation for the shares of Ecopetrol. It is the case of Daniel Velandia, Correval analyst. Velandia bases its analysis on the fact that the oil company is committing more than 80 billion dollars of investment for the coming years, and that makes you look far more solid and efficient before the market. Within the Group of optimists, investment America Andres Cardinal room analyst recommended buying shares of Ecopetrol. The expert considers that the CFD on the oil company could benefit from rises in the price of crude oil in the medium term. In this regard, States in its article that the instrument could break the resistance of 44.5 dollars and undertake a path upward toward the vicinity of their November 2010 Maxima, at 52 dollars per unit. Experts from Colombia also claim that the country could obtain investment grade by major credit rating agencies, which would probably favor the performance of actions and Ecopetrol.
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