Industry News

Encana Corp (NYSE:ECA) CFO Acquires $40,600.00 in Stock

By August 24, 2019 No Comments

Encana Corp (NYSE:ECA) (TSE:ECA) CFO Corey Douglas Code bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $4.06 per share, with a total value of $40,600.00. Following the transaction, the chief financial officer now directly owns 52,463 shares in the company, valued at approximately $212,999.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Corey Douglas Code also recently made the following trade(s):

  • On Wednesday, June 12th, Corey Douglas Code acquired 10,000 shares of Encana stock. The shares were bought at an average cost of $4.87 per share, with a total value of $48,700.00.

ECA traded down $0.13 during trading on Friday, hitting $4.14. 24,864,259 shares of the company’s stock traded hands, compared to its average volume of 27,614,871. The company’s 50 day simple moving average is $4.47 and its two-hundred day simple moving average is $5.96. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.70. Encana Corp has a 12-month low of $3.92 and a 12-month high of $13.61. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 4.81, a PEG ratio of 1.22 and a beta of 2.00.

Encana (NYSE:ECA) (TSE:ECA) last issued its earnings results on Wednesday, July 31st. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Encana had a return on equity of 10.76% and a net margin of 16.73%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.75 billion. On average, equities analysts expect that Encana Corp will post 0.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.0188 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.08 annualized dividend and a yield of 1.81%. Encana’s dividend payout ratio is 9.30%.

A number of research analysts recently weighed in on ECA shares. Raymond James reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Encana in a research report on Thursday, August 1st. National Bank Financial raised their price objective on Encana from $8.50 to $9.50 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Sanford C. Bernstein lowered Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. started coverage on Encana in a research report on Monday, April 29th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, TD Securities reduced their price objective on Encana from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $10.33.

A number of institutional investors and hedge funds have recently modified their holdings of ECA. Cresset Asset Management LLC lifted its position in Encana by 96.3% during the second quarter. Cresset Asset Management LLC now owns 13,081 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 6,418 shares in the last quarter. Prudential PLC purchased a new position in Encana during the second quarter valued at $3,954,000. First Manhattan Co. lifted its position in Encana by 186.7% during the second quarter. First Manhattan Co. now owns 153,629 shares of the oil and gas company’s stock valued at $788,000 after purchasing an additional 100,050 shares in the last quarter. Eaton Vance Management lifted its position in Encana by 35.5% during the second quarter. Eaton Vance Management now owns 65,873 shares of the oil and gas company’s stock valued at $338,000 after purchasing an additional 17,265 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Encana by 24.4% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 991,921 shares of the oil and gas company’s stock valued at $5,087,000 after purchasing an additional 194,298 shares in the last quarter. Institutional investors and hedge funds own 71.42% of the company’s stock.

About Encana

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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