Oppenheimer & Co. Inc. lessened its holdings in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 7.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 161,744 shares of the oil and gas company’s stock after selling 13,429 shares during the period. Oppenheimer & Co. Inc.’s holdings in Encana Corporation were worth $1,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ECA. Causeway Capital Management LLC lifted its position in shares of Encana Corporation by 95.2% during the 1st quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock worth $571,082,000 after purchasing an additional 23,779,815 shares during the last quarter. BlackRock Inc. lifted its position in shares of Encana Corporation by 11,232.3% during the 1st quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock worth $256,403,000 after purchasing an additional 21,702,894 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Encana Corporation by 337.3% during the 1st quarter. Wellington Management Group LLP now owns 12,168,568 shares of the oil and gas company’s stock worth $142,337,000 after purchasing an additional 9,385,795 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Encana Corporation by 90.9% during the 2nd quarter. CIBC Asset Management Inc now owns 6,575,705 shares of the oil and gas company’s stock worth $57,790,000 after purchasing an additional 3,131,997 shares during the last quarter. Finally, Steadfast Capital Management LP lifted its position in shares of Encana Corporation by 12.2% during the 1st quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock worth $233,902,000 after purchasing an additional 2,164,300 shares during the last quarter. 66.76% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on the company. Jefferies Group LLC reissued a “buy” rating and set a $12.00 price objective (down previously from $13.00) on shares of Encana Corporation in a research report on Tuesday, August 29th. BidaskClub cut Encana Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Canaccord Genuity set a $12.00 price objective on Encana Corporation and gave the stock a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research raised Encana Corporation from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, July 27th. Finally, Desjardins reissued a “hold” rating and set a $13.50 price objective on shares of Encana Corporation in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. Encana Corporation currently has an average rating of “Buy” and an average price target of $13.23.

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Encana Corporation (ECA) opened at 9.59 on Friday. The stock has a 50 day moving average price of $9.55 and a 200-day moving average price of $10.19. The firm has a market capitalization of $9.33 billion, a PE ratio of 11.43 and a beta of 2.06. Encana Corporation has a one year low of $8.01 and a one year high of $13.85.

Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same period in the previous year, the business earned $0.10 earnings per share. On average, equities analysts forecast that Encana Corporation will post $0.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders 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 dividend yield of 0.63%. Encana Corporation’s payout ratio 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.

Institutional Ownership by Quarter for Encana Corporation (NYSE:ECA)

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