Is Buying Encana Corporation (NYSE:ECA) Here Good Idea?

January 18, 2018 - By Henry Gaston

 Is Buying Encana Corporation (NYSE:ECA) Here Good Idea?

The stock of Encana Corporation (NYSE:ECA) registered a decrease of 6.75% in short interest. ECA’s total short interest was 15.78M shares in January as published by FINRA. Its down 6.75% from 16.92M shares, reported previously. With 5.62M shares average volume, it will take short sellers 3 days to cover their ECA’s short positions. The short interest to Encana Corporation’s float is 1.79%.

The stock increased 1.04% or $0.14 during the last trading session, reaching $13.59. About 8.12M shares traded. Encana Corporation (NYSE:ECA) has risen 50.13% since January 18, 2017 and is uptrending. It has outperformed by 33.43% the S&P500.

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company has market cap of $13.03 billion. The firm owns interests in various assets, such as the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations, including Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located offshore Nova Scotia. It has a 17.05 P/E ratio. It also holds interests in assets that comprise the Eagle Ford in south Texas; Permian in west Texas; San Juan in northwest New Mexico; Piceance in northwest Colorado; and Tuscaloosa Marine Shale in east Louisiana and west Mississippi.

Encana Corporation (NYSE:ECA) Ratings Coverage

Among 28 analysts covering Encana Corporation (NYSE:ECA), 21 have Buy rating, 2 Sell and 5 Hold. Therefore 75% are positive. Encana Corporation has $17.0 highest and $5.50 lowest target. $12.91’s average target is -5.00% below currents $13.59 stock price. Encana Corporation had 117 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by TD Securities with “Hold” on Tuesday, June 13. The stock of Encana Corporation (NYSE:ECA) has “Market Perform” rating given on Tuesday, December 22 by BMO Capital Markets. The rating was maintained by GMP Securities with “Buy” on Tuesday, December 12. The company was maintained on Wednesday, September 27 by Canaccord Genuity. BMO Capital Markets maintained the shares of ECA in report on Thursday, June 15 with “Buy” rating. The firm earned “Buy” rating on Wednesday, September 27 by BMO Capital Markets. The company was upgraded on Thursday, October 6 by Macquarie Research. The firm has “Buy” rating by Deutsche Bank given on Tuesday, June 14. The firm earned “Outperform” rating on Wednesday, May 31 by Raymond James. Morgan Stanley maintained the stock with “Equal-Weight” rating in Thursday, October 19 report.

More notable recent Encana Corporation (NYSE:ECA) news were published by: which released: “Encana Corp (USA) (NYSE:ECA) Technicals Stock Consolidating” on December 27, 2017, also with their article: “Encana Corp.: Is the Sell-Off Overdone?” published on July 10, 2017, published: “Should Encana Corp. Be in Your Portfolio?” on July 25, 2017. More interesting news about Encana Corporation (NYSE:ECA) were released by: and their article: “Encana Corp.’s Stock Down on Disappointing Q3 Results: Buy the Dip?” published on November 08, 2017 as well as‘s news article titled: “Is Another Rally on the Horizon for Encana Corp.?” with publication date: August 10, 2017.

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