Encana (NYSE:ECA) Shares Down 5%

Encana Corp (NYSE:ECA) (TSE:ECA)’s share price was down 5% during mid-day trading on Tuesday . The stock traded as low as $3.93 and last traded at $3.96, approximately 20,772,193 shares traded hands during trading. A decline of 21% from the average daily volume of 26,454,324 shares. The stock had previously closed at $4.17.

Several equities analysts have recently issued reports on ECA shares. ValuEngine upgraded Encana from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Macquarie started coverage on Encana in a research report on Monday, September 23rd. They set a “neutral” rating and a $5.50 target price for the company. TD Securities decreased their target price on Encana from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Friday, November 1st. Raymond James set a $5.00 target price on Encana and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, National Bank Financial decreased their target price on Encana from $8.00 to $7.50 and set an “outperform” rating for the company in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.03.

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50-day moving average of $4.33 and a 200-day moving average of $4.85. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 0.77 and a beta of 1.98.

Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Encana had a return on equity of 10.12% and a net margin of 16.84%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.70 billion. As a group, analysts anticipate that Encana Corp will post 0.57 EPS for the current fiscal year.

In other news, Director Brian Gordon Shaw bought 16,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $4.45 per share, for a total transaction of $71,200.00. Following the purchase, the director now owns 30,000 shares of the company’s stock, valued at approximately $133,500. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas James Suttles bought 12,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $3.92 per share, for a total transaction of $49,000.00. Following the purchase, the chief executive officer now directly owns 212,712 shares in the company, valued at approximately $833,831.04. The disclosure for this purchase can be found here. Insiders purchased a total of 63,300 shares of company stock valued at $265,380 over the last quarter. 0.11% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECA. Amundi Pioneer Asset Management Inc. lifted its stake in Encana by 318.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 797,623 shares of the oil and gas company’s stock valued at $5,775,000 after acquiring an additional 606,969 shares in the last quarter. Hexavest Inc. lifted its stake in Encana by 21.8% in the 2nd quarter. Hexavest Inc. now owns 554,277 shares of the oil and gas company’s stock valued at $2,850,000 after acquiring an additional 99,024 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Encana in the 2nd quarter valued at approximately $413,000. Addison Capital Co bought a new stake in Encana in the 2nd quarter valued at approximately $52,000. Finally, Addenda Capital Inc. lifted its stake in Encana by 40.6% in the 2nd quarter. Addenda Capital Inc. now owns 1,136,015 shares of the oil and gas company’s stock valued at $5,843,000 after acquiring an additional 328,305 shares in the last quarter. Hedge funds and other institutional investors own 70.22% of the company’s stock.

Encana Company Profile (NYSE:ECA)

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

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