Encana (NYSE:ECA) Trading 5.7% Higher

Encana Corp (NYSE:ECA) (TSE:ECA) shot up 5.7% during mid-day trading on Wednesday . The company traded as high as $4.09 and last traded at $4.07, 23,207,220 shares traded hands during mid-day trading. A decline of 11% from the average session volume of 26,000,182 shares. The stock had previously closed at $3.85.

A number of analysts have recently commented on ECA shares. TD Securities cut their price objective on shares of Encana from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Friday, November 1st. ValuEngine raised shares of Encana from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Raymond James set a $5.00 price target on shares of Encana and gave the company a “market perform” rating in a research note on Friday, November 1st. Citigroup lowered their price target on shares of Encana from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Barclays cut shares of Encana from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $11.00 to $5.00 in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Encana currently has a consensus rating of “Hold” and an average target price of $7.40.

The company has a market capitalization of $5.00 billion, a P/E ratio of 4.71, a PEG ratio of 0.69 and a beta of 2.01. The stock’s fifty day moving average price is $4.21 and its 200-day moving average price is $4.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82.

Encana (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Encana had a return on equity of 10.12% and a net margin of 16.84%. On average, research analysts predict that Encana Corp will post 0.57 EPS for the current fiscal year.

In related news, CEO Douglas James Suttles acquired 12,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $3.92 per share, for a total transaction of $49,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 212,712 shares in the company, valued at $833,831.04. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Sheila Marie Dipalma sold 79,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $53.48, for a total transaction of $4,251,660.00. Insiders acquired 47,300 shares of company stock worth $193,080 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ECA. CWM LLC grew its stake in Encana by 193.5% in the 2nd quarter. CWM LLC now owns 5,268 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 3,473 shares during the last quarter. Price Wealth Management Inc. bought a new stake in shares of Encana during the second quarter worth approximately $44,000. Park National Corp OH bought a new stake in shares of Encana during the third quarter worth approximately $48,000. Sigma Planning Corp bought a new stake in shares of Encana during the third quarter worth approximately $51,000. Finally, Lavaca Capital LLC acquired a new position in shares of Encana in the third quarter valued at approximately $53,000. Institutional investors own 74.12% of the company’s stock.

About Encana (NYSE:ECA)

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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