Encana Corporation (NYSE:ECA) (TSE:ECA)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank Of Canada in a report released on Thursday, July 20th, Marketbeat reports. They currently have a $13.00 target price on the oil and gas company’s stock, up from their previous target price of $12.00. Royal Bank Of Canada’s price objective points to a potential upside of 32.92% from the company’s current price.
ECA has been the subject of a number of other reports. Scotiabank upgraded Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price target for the company in a research report on Friday, June 30th. TD Securities lowered their price target on Encana Corporation from $12.50 to $11.50 and set a “hold” rating for the company in a research report on Tuesday, June 13th. BidaskClub upgraded Encana Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Desjardins reiterated a “hold” rating and issued a $13.75 target price on shares of Encana Corporation in a research note on Thursday, March 30th. Finally, Raymond James Financial, Inc. started coverage on Encana Corporation in a research note on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $13.32.
Encana Corporation (NYSE ECA) opened at 9.78 on Thursday. The stock’s 50 day moving average is $9.19 and its 200 day moving average is $10.78. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 11.66 and a beta of 2.04. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same period in the prior year, the company earned $0.10 EPS. Analysts predict that Encana Corporation will post $0.50 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in ECA. Cambridge Investment Research Advisors Inc. boosted its stake in Encana Corporation by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock worth $233,000 after buying an additional 124 shares during the period. Wetherby Asset Management Inc. boosted its stake in Encana Corporation by 0.6% in the first quarter. Wetherby Asset Management Inc. now owns 23,644 shares of the oil and gas company’s stock worth $277,000 after buying an additional 133 shares during the period. Howard Hughes Medical Institute boosted its stake in Encana Corporation by 0.3% in the first quarter. Howard Hughes Medical Institute now owns 144,220 shares of the oil and gas company’s stock worth $1,689,000 after buying an additional 389 shares during the period. Sentinel Trust Co. LBA boosted its stake in Encana Corporation by 0.3% in the second quarter. Sentinel Trust Co. LBA now owns 186,720 shares of the oil and gas company’s stock worth $1,644,000 after buying an additional 490 shares during the period. Finally, Equity Investment Corp Acquisition Inc boosted its stake in Encana Corporation by 5.4% in the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after buying an additional 666 shares during the period. Institutional investors own 73.10% of the company’s stock.
Encana Corporation Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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