First Republic Investment Management Inc. grew its position in Encana Corp (NYSE:ECA) (TSE:ECA) by 34.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,872 shares of the oil and gas company’s stock after purchasing an additional 9,892 shares during the period. First Republic Investment Management Inc.’s holdings in Encana were worth $199,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Encana by 238.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,255,883 shares of the oil and gas company’s stock valued at $51,382,000 after purchasing an additional 7,224,357 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its position in Encana by 42.1% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 26,995 shares of the oil and gas company’s stock worth $138,000 after buying an additional 8,000 shares in the last quarter. TrinityPoint Wealth LLC acquired a new position in Encana during the 2nd quarter worth about $69,000. FTB Advisors Inc. lifted its position in Encana by 40.0% during the 2nd quarter. FTB Advisors Inc. now owns 14,206 shares of the oil and gas company’s stock worth $72,000 after buying an additional 4,057 shares in the last quarter. Finally, Montgomery Investment Management Inc. lifted its position in Encana by 3.7% during the 2nd quarter. Montgomery Investment Management Inc. now owns 157,967 shares of the oil and gas company’s stock worth $811,000 after buying an additional 5,622 shares in the last quarter. Institutional investors own 68.23% of the company’s stock.
In other Encana news, CFO Corey Douglas Code bought 10,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $4.06 per share, with a total value of $40,600.00. Following the purchase, the chief financial officer now owns 52,463 shares in the company, valued at $212,999.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Gordon Shaw bought 16,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $4.45 per share, with a total value of $71,200.00. Following the completion of the purchase, the director now owns 30,000 shares in the company, valued at approximately $133,500. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 76,000 shares of company stock valued at $323,900. 0.11% of the stock is owned by company insiders.
Shares of ECA stock traded up $0.07 on Friday, reaching $4.75. The company had a trading volume of 15,346,900 shares, compared to its average volume of 20,737,650. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.70. The stock has a market cap of $6.30 billion, a PE ratio of 5.52, a PEG ratio of 1.35 and a beta of 1.98. The company has a 50-day moving average of $4.35 and a 200-day moving average of $5.74. Encana Corp has a 12 month low of $3.92 and a 12 month high of $13.61.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Encana had a return on equity of 10.76% and a net margin of 16.73%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Sell-side analysts anticipate that Encana Corp will post 0.6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 dividend on an annualized basis and a yield of 1.58%. Encana’s payout ratio is 9.30%.
ECA has been the topic of several research reports. Raymond James reiterated an “outperform” rating and set a $10.00 price target on shares of Encana in a research report on Thursday, August 1st. National Bank Financial boosted their price objective on Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Citigroup set a $11.00 price objective on Encana and gave the stock a “buy” rating in a report on Friday, May 24th. BMO Capital Markets dropped their price objective on Encana from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Morgan Stanley dropped their price objective on Encana from $6.50 to $6.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. One research 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. Encana presently has a consensus rating of “Buy” and a consensus price target of $10.15.
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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