Encana Corp (NYSE:ECA) (TSE:ECA) had its price objective upped by Scotiabank from $12.00 to $13.00 in a research note published on Thursday morning. They currently have a sector perform rating on the oil and gas company’s stock.

Other equities analysts also recently issued reports about the stock. UBS AG upgraded shares of Encana Corp from an outperform rating to a strong-buy rating in a report on Wednesday, July 5th. TD Securities upgraded shares of Encana Corp from a hold rating to a buy rating and set a $11.50 target price for the company in a report on Friday, June 30th. Raymond James Financial, Inc. raised their target price on shares of Encana Corp from $14.00 to $15.00 and gave the company a strong-buy rating in a report on Monday, July 24th. Citigroup Inc. raised their target price on shares of Encana Corp from $13.00 to $14.00 and gave the company a buy rating in a report on Thursday. Finally, Credit Suisse Group raised their target price on shares of Encana Corp from $14.00 to $15.00 and gave the company an outperform rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $14.11.

Encana Corp (NYSE:ECA) traded down 1.22% during midday trading on Thursday, hitting $11.38. 12,764,934 shares of the stock traded hands. The company has a 50-day moving average price of $10.87 and a 200 day moving average price of $10.21. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 13.56 and a beta of 2.12. Encana Corp has a one year low of $8.01 and a one year high of $13.85.

Encana Corp (NYSE:ECA) (TSE:ECA) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Encana Corp had a net margin of 30.56% and a return on equity of 19.95%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same period last year, the firm posted $0.10 EPS. Equities research analysts anticipate that Encana Corp will post $0.50 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the business. Steadfast Capital Management LP lifted its position in Encana Corp by 12.2% during the first quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after buying an additional 2,164,300 shares in the last quarter. Vanguard Group Inc. lifted its position in Encana Corp by 4.6% during the first quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after buying an additional 994,074 shares in the last quarter. Capital Fund Management S.A. lifted its position in Encana Corp by 103.1% during the second quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after buying an additional 286,089 shares in the last quarter. Parkwood LLC lifted its position in Encana Corp by 15.4% during the second quarter. Parkwood LLC now owns 376,727 shares of the oil and gas company’s stock valued at $3,315,000 after buying an additional 50,376 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Encana Corp by 15.4% during the second quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock valued at $222,330,000 after buying an additional 3,368,871 shares in the last quarter. 66.76% of the stock is currently owned by hedge funds and other institutional investors.

Encana Corp 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.

Analyst Recommendations for Encana Corp (NYSE:ECA)

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