Encana Corp (NYSE:ECA) (TSE:ECA) CFO Sherri Anne Brillon purchased 2,750 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was bought at an average cost of $8.69 per share, for a total transaction of $23,897.50. Following the completion of the purchase, the chief financial officer now directly owns 96,915 shares of the company’s stock, valued at approximately $842,191.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
ECA stock opened at $8.71 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.73 and a quick ratio of 0.73. Encana Corp has a 52-week low of $8.44 and a 52-week high of $14.31. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 0.78 and a beta of 2.15.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.04. Encana had a negative net margin of 3.98% and a positive return on equity of 9.46%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. As a group, equities analysts anticipate that Encana Corp will post 0.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, December 13th. Encana’s dividend payout ratio (DPR) is 13.95%.
A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Encana by 70.2% during the second quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock valued at $548,226,000 after acquiring an additional 17,318,112 shares during the period. Morgan Stanley boosted its holdings in Encana by 34.2% during the second quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock valued at $254,011,000 after acquiring an additional 4,962,470 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Encana by 37.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,307,169 shares of the oil and gas company’s stock valued at $186,745,000 after acquiring an additional 3,900,950 shares during the period. CIBC Asset Management Inc boosted its holdings in Encana by 1.3% during the third quarter. CIBC Asset Management Inc now owns 10,513,431 shares of the oil and gas company’s stock valued at $137,695,000 after acquiring an additional 134,249 shares during the period. Finally, TD Asset Management Inc. boosted its holdings in Encana by 13.1% during the third quarter. TD Asset Management Inc. now owns 9,512,694 shares of the oil and gas company’s stock valued at $124,594,000 after acquiring an additional 1,105,366 shares during the period. Institutional investors own 67.17% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. AltaCorp Capital downgraded shares of Encana from an “outperform” rating to a “sector perform” rating in a research note on Friday, November 2nd. Wolfe Research cut shares of Encana from an “outperform” rating to a “peer perform” rating in a report on Monday. Morgan Stanley cut shares of Encana from an “overweight” rating to an “equal weight” rating and set a $15.00 price objective for the company. in a report on Monday. National Bank Financial decreased their price objective on shares of Encana from $22.00 to $18.50 and set an “outperform” rating for the company in a report on Friday, November 2nd. Finally, Royal Bank of Canada decreased their price objective on shares of Encana from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. Encana currently has an average rating of “Buy” and a consensus price target of $15.14.
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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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