Stevens Capital Management LP lessened its holdings in Encana Corp (NYSE:ECA) (TSE:ECA) by 35.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,359 shares of the oil and gas company’s stock after selling 66,833 shares during the period. Stevens Capital Management LP’s holdings in Encana were worth $1,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its stake in shares of Encana by 70.2% in the 2nd quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock worth $548,226,000 after buying an additional 17,318,112 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Encana by 24.5% in the 3rd quarter. BlackRock Inc. now owns 27,563,490 shares of the oil and gas company’s stock worth $361,359,000 after buying an additional 5,428,023 shares during the last quarter. Morgan Stanley boosted its stake in shares of Encana by 34.2% in the 2nd quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock worth $254,011,000 after buying an additional 4,962,470 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Encana by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 10,513,431 shares of the oil and gas company’s stock worth $137,695,000 after buying an additional 134,249 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in shares of Encana by 13.1% in the 3rd quarter. TD Asset Management Inc. now owns 9,512,694 shares of the oil and gas company’s stock worth $124,594,000 after buying an additional 1,105,366 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Several equities analysts recently commented on ECA shares. BMO Capital Markets reiterated a “buy” rating and issued a $18.00 price objective on shares of Encana in a research note on Thursday, October 11th. Jefferies Financial Group set a $14.00 price objective on Encana and gave the company a “buy” rating in a research note on Friday, November 2nd. Bank of America started coverage on Encana in a research note on Tuesday, September 18th. They issued a “buy” rating and a $19.00 price objective on the stock. CIBC downgraded Encana from a “neutral” rating to a “sector underperform” rating in a research note on Thursday, November 1st. Finally, Morgan Stanley set a $19.00 price objective on Encana and gave the company a “buy” rating in a research note on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.97.

In related news, Director Bruce Gordon Waterman bought 25,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were 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 approximately $1,624,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas James Suttles bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were bought at an average price of $7.04 per share, for a total transaction of $35,200.00. Following the transaction, the insider now owns 149,212 shares of the company’s stock, valued at $1,050,452.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 238,655 shares of company stock worth $2,057,114. Company insiders own 0.09% of the company’s stock.

NYSE:ECA opened at $6.75 on Wednesday. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 0.41 and a beta of 2.06. Encana Corp has a 1 year low of $6.64 and a 1 year high of $14.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.89%. Encana’s dividend payout ratio is currently 13.95%.

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Encana Profile

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.

Further Reading: NASDAQ

Institutional Ownership by Quarter for Encana (NYSE:ECA)

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