Investors Research Corp purchased a new stake in Encana Corp (NYSE:ECA) (TSE:ECA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,575 shares of the oil and gas company’s stock, valued at approximately $194,000.
Several other institutional investors have also bought and sold shares of the stock. Aperio Group LLC raised its holdings in shares of Encana by 18.1% in the third quarter. Aperio Group LLC now owns 366,584 shares of the oil and gas company’s stock worth $4,318,000 after acquiring an additional 56,136 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Encana by 5.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 112,742 shares of the oil and gas company’s stock valued at $1,328,000 after purchasing an additional 5,456 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Encana in the third quarter valued at $1,020,000. IFP Advisors Inc increased its stake in Encana by 322.9% in the third quarter. IFP Advisors Inc now owns 37,825 shares of the oil and gas company’s stock valued at $446,000 after purchasing an additional 28,881 shares during the last quarter. Finally, Stevens Capital Management LP grew its position in Encana by 325.2% during the third quarter. Stevens Capital Management LP now owns 49,285 shares of the oil and gas company’s stock valued at $581,000 after acquiring an additional 37,693 shares during the period. Hedge funds and other institutional investors own 68.51% of the company’s stock.
In other Encana news, Director Howard John Mayson purchased 2,500 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were purchased at an average cost of $10.53 per share, with a total value of $26,325.00. Following the transaction, the director now directly owns 25,104 shares of the company’s stock, valued at approximately $264,345.12. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Suzanne P. Nimocks bought 5,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average cost of $10.62 per share, for a total transaction of $53,100.00. Following the completion of the acquisition, the director now owns 10,600 shares in the company, valued at approximately $112,572. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,500 shares of company stock worth $256,395 over the last three months. Insiders own 0.08% of the company’s stock.
ECA has been the subject of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $16.00 target price on shares of Encana in a research report on Tuesday, January 9th. Royal Bank of Canada boosted their price target on Encana from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Barclays upped their price objective on Encana from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Zacks Investment Research cut Encana from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Finally, GMP Securities reiterated a “buy” rating and set a $15.50 price target on shares of Encana in a research report on Friday, February 23rd. Three analysts have rated the stock with a sell rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $15.37.
Encana Corp (ECA) traded up $0.14 during mid-day trading on Wednesday, reaching $11.10. 8,360,000 shares of the company traded hands, compared to its average volume of 9,200,000. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.62. Encana Corp has a 1 year low of $8.01 and a 1 year high of $14.31. The company has a market cap of $10,810.00, a PE ratio of 9.33, a PEG ratio of 1.47 and a beta of 2.13.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.06 billion. Encana had a net margin of 18.58% and a return on equity of 6.25%. equities research analysts anticipate that Encana Corp will post 0.74 earnings per share for the current year.
Encana declared that its Board of Directors has approved a share buyback plan on Thursday, February 15th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a $0.015 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.06 annualized dividend and a yield of 0.54%. Encana’s dividend payout ratio is currently 5.04%.
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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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