Encana (ECA) Shares Down 5.1%

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Encana Corp (NYSE:ECA) (TSE:ECA) was down 5.1% during trading on Wednesday . The company traded as low as $6.72 and last traded at $6.75. Approximately 22,974,030 shares traded hands during trading, a decline of 23% from the average daily volume of 29,945,542 shares. The stock had previously closed at $7.11.

A number of equities research analysts have commented on ECA shares. Zacks Investment Research raised shares of Encana from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Monday, October 22nd. Morgan Stanley set a $19.00 price objective on shares of Encana and gave the stock a “buy” rating in a report on Friday, October 12th. Macquarie lowered shares of Encana from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 28th. Canaccord Genuity reissued an “average” rating on shares of Encana in a report on Wednesday, November 7th. Finally, BMO Capital Markets reissued a “buy” rating and set a $18.00 price objective on shares of Encana in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.81.

The company has a market cap of $6.40 billion, a PE ratio of 15.70, a PEG ratio of 0.41 and a beta of 2.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.70.

Encana (NYSE:ECA) (TSE:ECA) last issued its earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. Encana had a negative net margin of 3.98% and a positive return on equity of 9.53%. On average, equities analysts predict that Encana Corp will post 0.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, December 13th. Encana’s dividend payout ratio (DPR) is presently 13.95%.

In other news, insider Douglas James Suttles purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were acquired at an average cost of $7.04 per share, for a total transaction of $35,200.00. Following the transaction, the insider now directly owns 149,212 shares of the company’s stock, valued at approximately $1,050,452.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce Gordon Waterman purchased 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average price of $8.12 per share, for a total transaction of $203,000.00. Following the completion of the transaction, the director now directly owns 200,000 shares in the company, valued at $1,624,000. The disclosure for this purchase can be found here. Insiders bought a total of 238,655 shares of company stock worth $2,057,114 in the last ninety days. Insiders own 0.09% of the company’s stock.

Several large investors have recently made changes to their positions in ECA. Riverhead Capital Management LLC raised its position in shares of Encana by 421.1% in the 3rd quarter. Riverhead Capital Management LLC now owns 8,338 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 6,738 shares during the period. Csenge Advisory Group acquired a new stake in Encana during the 3rd quarter worth approximately $124,000. Fox Run Management L.L.C. acquired a new stake in Encana during the 3rd quarter worth approximately $196,000. Edgestream Partners L.P. acquired a new stake in Encana during the 2nd quarter worth approximately $209,000. Finally, Freestone Capital Holdings LLC acquired a new stake in Encana during the 3rd quarter worth approximately $223,000. Institutional investors and hedge funds own 68.12% of the company’s stock.

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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. The company holds interests in various assets, including the Montney in northern 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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