Oppenheimer Asset Management Inc. Buys 82,706 Shares of Encana Corporation (ECA)
Oppenheimer Asset Management Inc. boosted its stake in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 61.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,222 shares of the oil and gas company’s stock after purchasing an additional 82,706 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Encana Corporation were worth $1,911,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Equity Investment Corp Acquisition Inc increased its holdings in Encana Corporation by 10.7% during the 1st quarter. Equity Investment Corp Acquisition Inc now owns 12,330 shares of the oil and gas company’s stock worth $144,000 after purchasing an additional 1,195 shares during the period. Atria Investments LLC purchased a new stake in Encana Corporation during the 2nd quarter worth about $113,000. Quantitative Systematic Strategies LLC purchased a new stake in Encana Corporation during the 2nd quarter worth about $118,000. DekaBank Deutsche Girozentrale increased its holdings in Encana Corporation by 85.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 14,072 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 6,500 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Encana Corporation during the 1st quarter worth about $166,000. Institutional investors own 66.76% of the company’s stock.
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A number of research analysts have recently commented on the company. Jefferies Group LLC set a $14.00 price objective on Encana Corporation and gave the company a “buy” rating in a report on Wednesday, May 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 price objective on shares of Encana Corporation in a report on Monday, May 29th. Raymond James Financial, Inc. assumed coverage on Encana Corporation in a report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 price objective on the stock. Zacks Investment Research upgraded Encana Corporation from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, July 27th. Finally, TD Securities increased their price objective on Encana Corporation from $11.50 to $12.50 and gave the company a “buy” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. Encana Corporation presently has a consensus rating of “Buy” and a consensus target price of $13.23.
Encana Corporation (ECA) opened at 9.51 on Thursday. The stock’s 50 day moving average price is $9.56 and its 200-day moving average price is $10.19. The stock has a market capitalization of $9.25 billion, a P/E ratio of 11.33 and a beta of 2.06. Encana Corporation has a 52 week low of $8.01 and a 52 week high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.15. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same period in the prior year, the firm posted $0.10 earnings per share. Equities research analysts expect that Encana Corporation will post $0.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.015 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.63%. Encana Corporation’s dividend payout ratio (DPR) is 6.98%.
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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