UBS Oconnor LLC lowered its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 33.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 412,175 shares of the oil and gas company’s stock after selling 203,029 shares during the period. UBS Oconnor LLC’s holdings in Encana Corporation were worth $4,827,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Comerica Bank increased its stake in Encana Corporation by 22.4% in the fourth quarter. Comerica Bank now owns 116,233 shares of the oil and gas company’s stock worth $1,517,000 after buying an additional 21,266 shares during the period. TCW Group Inc. increased its stake in Encana Corporation by 10.0% in the fourth quarter. TCW Group Inc. now owns 29,700 shares of the oil and gas company’s stock worth $349,000 after buying an additional 2,700 shares during the period. FMR LLC increased its stake in Encana Corporation by 739.9% in the fourth quarter. FMR LLC now owns 20,771,231 shares of the oil and gas company’s stock worth $243,813,000 after buying an additional 18,298,176 shares during the period. Credit Agricole S A increased its stake in Encana Corporation by 36.9% in the fourth quarter. Credit Agricole S A now owns 157,186 shares of the oil and gas company’s stock worth $1,845,000 after buying an additional 42,353 shares during the period. Finally, Allianz Asset Management AG bought a new stake in Encana Corporation during the fourth quarter worth about $370,000. Institutional investors and hedge funds own 72.62% of the company’s stock.
Encana Corporation (NYSE ECA) opened at 9.36 on Tuesday. Encana Corporation has a 12 month low of $7.45 and a 12 month high of $13.85. The stock’s market capitalization is $9.11 billion. The firm’s 50-day moving average is $9.75 and its 200-day moving average is $11.30.
Encana Corporation (NYSE:ECA) (TSE:ECA) last posted its earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. Encana Corporation had a positive return on equity of 5.21% and a negative net margin of 3.87%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $789.49 million. During the same quarter in the prior year, the company earned ($0.15) EPS. On average, equities analysts expect that Encana Corporation will post $0.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Tuesday, June 13th. Encana Corporation’s dividend payout ratio is currently -31.58%.
Several research firms have recently weighed in on ECA. UBS AG upgraded shares of Encana Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $12.00 to $14.00 in a research note on Thursday, March 23rd. Desjardins reaffirmed a “hold” rating and set a $13.75 price objective on shares of Encana Corporation in a research note on Thursday, March 30th. GMP Securities reaffirmed a “hold” rating and set a $13.25 price objective on shares of Encana Corporation in a research note on Friday, March 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price objective on shares of Encana Corporation in a research note on Tuesday, April 11th. Finally, Barclays PLC reiterated an “overweight” rating and set a $12.00 target price (down from $15.00) on shares of Encana Corporation in a research report on Saturday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. Encana Corporation currently has an average rating of “Buy” and an average price target of $13.51.
About Encana Corporation
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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