Analysts At JP Morgan Indicated Encana Corp (NYSE:ECA) As Overweight
Analysts give ECA a mean recommendation of 2.40. As such, ECA is set to benefit from the commodity's recent price strength. A higher price target would definitely provide confidence to investors during the trading action, consideration given by Wall Street Journal. However, ECA's profit is influenced by commodity price fluctuations.
Several other brokerages also recently weighed in on ECA. The company now has an average rating of "Buy" and a consensus price target of $13.66.
"Encana Corporation (ECA) Earns Overweight Rating from Analysts at J P Morgan Chase & Co" was posted by Community Financial News and is the sole property of of Community Financial News. Zacks Investment Research lowered Encana Corporation from a "buy" rating to a "hold" rating in a report on Thursday.
So does the rankings given by analysts; let us highlight rankings table and we had 15 analysts recommending BUY ratings for current month and for previous month 13 stands on similar situation; while 10 for the current month as compared to 1not a single analyst recommending for HOLD from the pool for previous month. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. This Oils-Energy Sector stock now has the Market Capitalization of 12.3 Billion. The stock has moved up across its 50-day moving average of $12.75. Company has a market cap of $12,513 M. The 52 week high Encana Corp's shares have peaked at is 13.85 whilst the 52 week low for the company's shares is 3. Finally, Jefferies Group LLC restated a "buy" rating and issued a $14.00 target price on shares of Encana Corporation in a report on Wednesday, October 19th.
While looking at the Stock's Performance, Encana Corporation now shows a Weekly Performance of 8.22%, where Monthly Performance is -4.34%, Quarterly performance is 21.88%, 6 Months performance is 34.07% and yearly performance percentage is 232.4%. Encana Corporation had a negative net margin of 40.77% and a positive return on equity of 1.79%. ECA said it had a profit of $0.09 Earnings per Share for the quarter. Encana Corporation has 1 year price target of $15.01.
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Nonetheless, and in the immediate aftermath of reporting, investor reaction in Encana Corporation (ECA) stock has proven to be much more bearish. The company reported its last quarter on Sep 16. AGF Investments Inc. raised its stake in Encana Corporation by 20.1% in the second quarter. Murphy Pohlad Asset Management LLC now owns 12,070 shares of the company's stock valued at $126,000 after buying an additional 375 shares during the period. This showed the surprise of 200% in the last quarter earnings. Highstreet Asset Management Inc. increased its position in Encana Corporation by 0.9% in the third quarter. Finally, Bridgewater Associates LP boosted its stake in Encana Corporation by 64.5% in the third quarter.
The Calgary-based company also updated 2017 guidance, forecasting capital expenditures between $1.6 billion and $1.8 billion and production between 320,000 and 330,000 barrels of oil equivalent per day. All of its reserves and production are located in North America.
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