Encana Corp (NYSE:ECA) Holdings Reduced by GeoSphere Capital Management LLC

GeoSphere Capital Management LLC lessened its position in Encana Corp (NYSE:ECA) (TSE:ECA) by 80.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,331 shares of the oil and gas company’s stock after selling 129,769 shares during the period. Encana comprises 2.5% of GeoSphere Capital Management LLC’s portfolio, making the stock its 4th largest holding. GeoSphere Capital Management LLC’s holdings in Encana were worth $422,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Encana by 70.2% in the second quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock valued at $548,226,000 after buying an additional 17,318,112 shares during the last quarter. Morgan Stanley raised its position in shares of Encana by 34.2% in the second quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock valued at $254,011,000 after buying an additional 4,962,470 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Encana by 37.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,307,169 shares of the oil and gas company’s stock valued at $186,745,000 after buying an additional 3,900,950 shares during the last quarter. CIBC World Markets Inc. raised its position in shares of Encana by 3.0% in the first quarter. CIBC World Markets Inc. now owns 11,341,531 shares of the oil and gas company’s stock valued at $124,757,000 after buying an additional 326,637 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Encana by 140.6% in the first quarter. Millennium Management LLC now owns 10,003,511 shares of the oil and gas company’s stock valued at $110,039,000 after buying an additional 5,846,286 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

ECA has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Encana from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. National Bank Financial dropped their price target on shares of Encana from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, August 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $19.00 price target on shares of Encana in a research report on Thursday, July 12th. CIBC initiated coverage on shares of Encana in a research report on Friday. They set a “neutral” rating for the company. Finally, Bank of America initiated coverage on shares of Encana in a research report on Tuesday, September 18th. They set a “buy” rating and a $19.00 price target for the company. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $16.30.

ECA opened at $12.52 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.57. Encana Corp has a 52-week low of $9.79 and a 52-week high of $14.31. The company has a market cap of $12.51 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 1.26 and a beta of 2.02.

Encana (NYSE:ECA) (TSE:ECA) last announced its earnings results on Wednesday, August 1st. The oil and gas company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.09. The business had revenue of $983.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Encana had a net margin of 1.49% and a return on equity of 7.30%. On average, research analysts predict that Encana Corp will post 0.69 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This is an increase from Encana’s previous quarterly dividend of $0.02. This represents a $0.60 annualized dividend and a dividend yield of 4.79%. Encana’s dividend payout ratio is 13.95%.

Encana Profile

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern 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.

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Institutional Ownership by Quarter for Encana (NYSE:ECA)

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