Cubist Systematic Strategies LLC Reduces Stake in Encana Corporation (ECA)
Cubist Systematic Strategies LLC decreased its holdings in Encana Corporation (NYSE:ECA) (TSE:ECA) by 72.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,901 shares of the oil and gas company’s stock after selling 49,150 shares during the period. Cubist Systematic Strategies LLC’s holdings in Encana Corporation were worth $166,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ECA. SG Americas Securities LLC acquired a new position in shares of Encana Corporation in the 1st quarter valued at about $166,000. PNC Financial Services Group Inc. increased its holdings in shares of Encana Corporation by 8.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,951 shares of the oil and gas company’s stock valued at $375,000 after purchasing an additional 2,380 shares during the period. Vanguard Group Inc. increased its holdings in shares of Encana Corporation by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after purchasing an additional 994,074 shares during the period. Geode Capital Management LLC increased its holdings in shares of Encana Corporation by 8.9% in the 1st quarter. Geode Capital Management LLC now owns 460,079 shares of the oil and gas company’s stock valued at $5,358,000 after purchasing an additional 37,613 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Encana Corporation by 11,232.3% in the 1st quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock valued at $256,403,000 after purchasing an additional 21,702,894 shares during the period. Institutional investors own 67.00% of the company’s stock.
ECA has been the topic of a number of research reports. Morgan Stanley upped their target price on Encana Corporation from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 19th. Scotiabank upped their target price on Encana Corporation from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Thursday, October 19th. BidaskClub upgraded Encana Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Barclays PLC reiterated an “overweight” rating and issued a $8.00 target price on shares of Encana Corporation in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada upped their target price on Encana Corporation from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $14.16.
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Encana Corporation (NYSE ECA) opened at $12.33 on Monday. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85. The company has a market capitalization of $11,997.09, a P/E ratio of 29.36, a PEG ratio of 3.20 and a beta of 2.17. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.62.
Encana Corporation 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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