Shares of Colombian state oil company Ecopetrol (EC -1.8%), whose earnings continue to...

|About: Ecopetrol S.A. (EC)|By:, SA News Editor

Shares of Colombian state oil company Ecopetrol (EC -1.8%), whose earnings continue to disappoint as it struggles to make new discoveries, hit a new 52-week low and fall below 4K pesos for the first time in 18 months. EC has ~2B boe in proven reserves and a $97B market cap, which makes its ratio of market value to reserves much more expensive than neighboring Brazil's Petrobras (PBR).