Contrarius Investment Management Ltd lifted its holdings in Encana Corp (NYSE:ECA) (TSE:ECA) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 449,215 shares of the oil and gas company’s stock after purchasing an additional 1,645 shares during the quarter. Contrarius Investment Management Ltd’s holdings in Encana were worth $2,596,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Focused Wealth Management Inc boosted its stake in shares of Encana by 200.0% in the fourth quarter. Focused Wealth Management Inc now owns 6,000 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 12,000 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Encana during the fourth quarter worth $84,000. Janney Montgomery Scott LLC boosted its position in Encana by 24.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,928 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 3,166 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Encana during the fourth quarter worth $101,000. Finally, Riverhead Capital Management LLC boosted its position in Encana by 421.1% during the third quarter. Riverhead Capital Management LLC now owns 8,338 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 6,738 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.
In related news, Director Bruce Gordon Waterman purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was bought at an average cost of $8.12 per share, with a total value of $203,000.00. Following the completion of the acquisition, the director now directly owns 200,000 shares in the company, valued at approximately $1,624,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas James Suttles purchased 5,000 shares of the business’s stock in a transaction dated Thursday, December 20th. The stock was bought at an average cost of $5.55 per share, with a total value of $27,750.00. Following the completion of the acquisition, the chief executive officer now owns 159,212 shares of the company’s stock, valued at $883,626.60. The disclosure for this purchase can be found here. Over the last three months, insiders bought 70,000 shares of company stock valued at $500,370. Insiders own 0.09% of the company’s stock.
A number of research firms have commented on ECA. Zacks Investment Research downgraded Encana from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Mizuho began coverage on Encana in a research report on Tuesday, January 29th. They set a “neutral” rating and a $8.00 target price on the stock. Royal Bank of Canada decreased their target price on Encana from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, November 2nd. ValuEngine downgraded Encana from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Finally, CIBC upgraded Encana from a “sector underperform” rating to a “neutral” rating in a research report on Thursday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.22.
NYSE ECA opened at $6.11 on Monday. Encana Corp has a fifty-two week low of $5.00 and a fifty-two week high of $14.28. The firm has a market capitalization of $5.82 billion, a PE ratio of 14.21, a P/E/G ratio of 0.44 and a beta of 2.09. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.57.
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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.
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