Sunbelt Securities Inc. purchased a new position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,188 shares of the oil and gas company’s stock, valued at approximately $189,000.
Several other institutional investors also recently added to or reduced their stakes in ECA. CWM LLC lifted its position in Encana by 193.5% in the second quarter. CWM LLC now owns 5,268 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 3,473 shares during the period. Price Wealth Management Inc. acquired a new position in Encana during the 2nd quarter worth approximately $44,000. Park National Corp OH purchased a new position in shares of Encana during the 3rd quarter worth approximately $48,000. Sigma Planning Corp purchased a new position in shares of Encana during the 3rd quarter worth approximately $51,000. Finally, Lavaca Capital LLC acquired a new stake in shares of Encana in the 3rd quarter valued at approximately $53,000. Institutional investors and hedge funds own 74.12% of the company’s stock.
In related news, CEO Douglas James Suttles bought 12,500 shares of Encana stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $3.92 per share, with a total value of $49,000.00. Following the purchase, the chief executive officer now owns 212,712 shares in the company, valued at $833,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Corey Douglas Code bought 10,000 shares of the stock in a transaction on Friday, November 29th. The shares were bought at an average price of $3.95 per share, for a total transaction of $39,500.00. Following the acquisition, the chief financial officer now owns 62,463 shares in the company, valued at approximately $246,728.85. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 63,300 shares of company stock valued at $264,280. 0.11% of the stock is currently owned by company insiders.
ECA has been the topic of a number of analyst reports. BMO Capital Markets decreased their price target on Encana from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Macquarie initiated coverage on Encana in a research report on Monday, September 23rd. They issued a “neutral” rating and a $5.50 price objective for the company. Raymond James set a $5.00 target price on Encana and gave the company a “market perform” rating in a report on Friday, November 1st. Scotiabank lowered shares of Encana from an “outperform” rating to a “sector perform” rating and set a $5.50 target price on the stock. in a research report on Monday, November 25th. Finally, ValuEngine upgraded shares of Encana from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.90.
NYSE:ECA opened at $3.88 on Tuesday. The company has a market capitalization of $5.12 billion, a PE ratio of 4.80, a price-to-earnings-growth ratio of 0.69 and a beta of 2.01. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. Encana Corp has a 52-week low of $3.81 and a 52-week high of $7.70. The stock has a fifty day simple moving average of $4.24 and a 200-day simple moving average of $4.68.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. Encana had a net margin of 16.84% and a return on equity of 10.12%. As a group, equities analysts anticipate that Encana Corp will post 0.57 earnings per share for the current year.
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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