Encana Corporation (ECA): Price Target and June Short Interest Disclosure

Encana Corporation (ECA) : The highest level Encana Corporation (ECA) is projected to reach is $15 for the short term and the lowest estimate is at $6. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $9.04 and the possibility the share price can swing is $2.48.

Encana Corporation (ECA), According to the latest information the short interest in Encana Corporation plummeted by 21.2% or 4,953,965 shares. The final shorts are 2.2% of the total floated shares. The positions dropped from 23,314,059 shares on June 15,2016 to 18,360,094 on June 30,2016. According to the per-day average trading of 12,369,107 shares, the days to cover are 1. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Macquarie downgrades the rating on Encana Corporation (NYSE:ECA). The brokerage firm has issued a Underperform rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on June 23, 2016.

Encana

Encana Corporation (NYSE:ECA): stock turned positive on Thursday. Though the stock opened at $7.99, the bulls momentum made the stock top out at $8.05 level for the day. The stock recorded a low of $7.88 and closed the trading day at $7.98, in the green by 2.18%. The total traded volume for the day was 8,058,654. The stock had closed at $7.81 in the previous days trading.

Encana Corporation is engaged in the business of the exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company operates through three business segments: 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. Market Optimization sells all of the Companys upstream production to third-party customers. Its growth assets include Permian; Tuscaloosa Marine Shale; Eagle Ford; Montney; Duvernay; DJ Basin, and San Juan.

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