Encana (NYSE:ECA) (TSE:ECA) had its price target dropped by stock analysts at Goldman Sachs from $17.25 to $14.00 in a note issued to investors on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Goldman Sachs’ target price would indicate a potential upside of 15.70% from the company’s previous close.
A number of other research firms also recently issued reports on ECA. ValuEngine downgraded shares of Encana from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Zacks Investment Research cut shares of Encana from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Scotiabank raised shares of Encana from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $13.00 to $14.00 in a research note on Friday, February 16th. National Bank Financial raised their price objective on shares of Encana from $14.50 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Finally, AltaCorp Capital raised shares of Encana from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.33.
ECA stock opened at $12.10 on Friday. Encana has a 12-month low of $8.01 and a 12-month high of $14.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $11,341.26, a PE ratio of 28.14, a P/E/G ratio of 1.62 and a beta of 2.02.
Encana (NYSE:ECA) (TSE:ECA) last posted 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 Zacks’ consensus estimate of $0.10 by $0.02. Encana had a net margin of 18.58% and a return on equity of 6.25%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.06 billion. analysts forecast that Encana will post 0.72 earnings per share for the current year.
Encana announced that its board has approved a stock buyback program on Thursday, February 15th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In related news, Director Suzanne P. Nimocks purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $10.62 per share, for a total transaction of $53,100.00. Following the acquisition, the director now directly owns 10,600 shares in the company, valued at $112,572. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard John Mayson purchased 2,500 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was bought at an average price of $10.53 per share, for a total transaction of $26,325.00. Following the acquisition, the director now owns 25,104 shares in the company, valued at $264,345.12. The disclosure for this purchase can be found here. Insiders acquired a total of 24,500 shares of company stock valued at $267,185 over the last ninety days. 0.08% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ECA. Virtu Financial LLC acquired a new position in shares of Encana in the 3rd quarter valued at $131,000. Klingenstein Fields & Co. LLC acquired a new position in shares of Encana in the 4th quarter valued at $143,000. Prospera Financial Services Inc acquired a new position in shares of Encana in the 4th quarter valued at $153,000. IFG Advisory LLC acquired a new position in shares of Encana in the 4th quarter valued at $189,000. Finally, ING Groep NV acquired a new position in shares of Encana in the 4th quarter valued at $193,000. Institutional investors own 68.64% of the company’s stock.
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Encana 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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