Barclays downgraded shares of Encana (NYSE:ECA) (TSE:ECA) from an overweight rating to an equal weight rating in a research report sent to investors on Friday, 24/7 WallStreet reports. Barclays currently has $5.00 target price on the oil and gas company’s stock, down from their previous target price of $11.00.

Several other equities analysts have also commented on the company. Citigroup dropped their target price on Encana from $10.00 to $9.00 and set a buy rating for the company in a research note on Monday, September 23rd. TD Securities decreased their price target on shares of Encana from $7.00 to $6.50 and set a buy rating on the stock in a report on Friday, November 1st. BMO Capital Markets lowered their price objective on shares of Encana from $9.00 to $8.00 and set an outperform rating for the company in a research note on Thursday, September 5th. Wolfe Research downgraded Encana from a peer perform rating to an underperform rating and set a $5.00 target price for the company. in a research report on Tuesday, October 15th. Finally, Scotiabank lowered Encana from an outperform rating to a sector perform rating and set a $5.50 target price for the company. in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $7.40.

ECA stock opened at $4.05 on Friday. The company has a 50 day moving average price of $4.21 and a two-hundred day moving average price of $4.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $5.26 billion, a P/E ratio of 4.71, a PEG ratio of 0.71 and a beta of 2.01. Encana has a one year low of $3.77 and a one year high of $7.70.

Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Encana had a return on equity of 10.12% and a net margin of 16.84%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. Research analysts forecast that Encana will post 0.57 earnings per share for the current fiscal year.

In other news, CFO Corey Douglas Code purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was acquired at an average cost of $3.95 per share, for a total transaction of $39,500.00. Following the completion of the purchase, the chief financial officer now owns 62,463 shares of the company’s stock, valued at $246,728.85. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas James Suttles acquired 12,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $3.92 per share, with a total value of $49,000.00. Following the completion of the acquisition, the chief executive officer now owns 212,712 shares of the company’s stock, valued at $833,831.04. The disclosure for this purchase can be found here. Insiders bought a total of 47,300 shares of company stock valued at $193,080 in the last three months. Insiders own 0.11% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. boosted its holdings in Encana by 44.2% during the third quarter. Letko Brosseau & Associates Inc. now owns 52,459,355 shares of the oil and gas company’s stock worth $240,505,000 after buying an additional 16,082,247 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Encana by 80.2% in the second quarter. Invesco Ltd. now owns 29,383,179 shares of the oil and gas company’s stock valued at $150,734,000 after buying an additional 13,076,923 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Encana by 13,689.8% during the 2nd quarter. Renaissance Technologies LLC now owns 11,666,200 shares of the oil and gas company’s stock valued at $59,848,000 after acquiring an additional 11,581,600 shares during the last quarter. Davis Selected Advisers lifted its position in shares of Encana by 22.5% during the 2nd quarter. Davis Selected Advisers now owns 50,296,797 shares of the oil and gas company’s stock valued at $258,023,000 after acquiring an additional 9,233,820 shares during the last quarter. Finally, Phoenix Holdings Ltd. bought a new stake in shares of Encana during the 3rd quarter worth $33,555,000. 74.13% of the stock is currently owned by institutional investors.

Encana Company Profile

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.

Further Reading: Trading Strategy Methods and Types

Analyst Recommendations for Encana (NYSE:ECA)

Receive News & Ratings for Encana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana and related companies with MarketBeat.com's FREE daily email newsletter.