Analysis: Encana Corporation (TSE:ECA) Stock Target Has Just Been Increased Today
In an interesting research report finalized by Societe Generale on Tuesday, 15 December, the firm, Encana Corporation (TSE:ECA), had their price target lowered to $8.50. Analusts now have a solid “Hold” rating on the stock.
From a total of 13 analysts covering Encana Corporation (TSE:ECA) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $13 while the lowest target price is $6. The mean of all analyst targets is $9.97 with a 45.72% above today’s ($7.48) stock price. Encana Corporation was the topic of 14 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc.
Approximately 4.20 million shares of stock traded hands or 54.41% up from the average. Encana Corporation (TSE:ECA) has declined 54.23% since May 12, 2015 and is downtrending. It has underperformed by 50.55% the S&P500.
Encana Corporation is engaged in the business of the exploration, development, production and marketing of natural gas, oil and natural gas liquids . The company has a market cap of $6.33 billion. The Firm operates through three business divisions: Canadian Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within Canada; USA Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization, which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments, product type, delivery points and customer diversification. It currently has negative earnings. Market Optimization sells all of the Company’s upstream production to third-party customers.
According to Zacks Investment Research, “EnCana Corporation is one of the world’s largest independent natural gas producers and gas storage operators.”