Caymus Capital Partners Lowers stake in Encana Corporation (USA) (ECA)

Encana Corporation (USA) (ECA) : Caymus Capital Partners reduced its stake in Encana Corporation (USA) by 48.59% during the most recent quarter end. The investment management company now holds a total of 2,437,700 shares of Encana Corporation (USA) which is valued at $22,890,003 after selling 2,304,000 shares in Encana Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Encana Corporation (USA) makes up approximately 3.24% of Caymus Capital Partners’s portfolio.

Other Hedge Funds, Including , Steadfast Capital Management Lp added ECA to its portfolio by purchasing 5,157,575 company shares during the most recent quarter which is valued at $48,429,629. Encana Corporation (USA) makes up approx 1.24% of Steadfast Capital Management Lp’s portfolio.Guardian Capital Advisors Lp reduced its stake in ECA by selling 225 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 133,768 shares of ECA which is valued at $1,256,082. Encana Corporation (USA) makes up approx 0.22% of Guardian Capital Advisors Lp’s portfolio. Mn Services Vermogensbeheer B.v. sold out all of its stake in ECA during the most recent quarter. The investment firm sold 20,918 shares of ECA which is valued $174,456.Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in ECA in the latest quarter, The investment management firm added 39,600 additional shares and now holds a total of 300,542 shares of Encana Corporation (USA) which is valued at $2,464,444. Encana Corporation (USA) makes up approx 0.03% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.

Encana Corporation (USA) closed down -0.11 points or -1.15% at $9.43 with 91,43,879 shares getting traded on Thursday. Post opening the session at $9.47, the shares hit an intraday low of $9.29 and an intraday high of $9.665 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Encana Corporation (USA) reported $0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $-0.09.Analysts expectations of $ 768.61.During the same quarter in the previous year, the company posted $-0.20 EPS.

Investors should note that on Jul 21, 2016, Encana Corporation (USA) announced a cash dividend of $0.0150. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Encana Corporation (USA). KLR Group Initiated Encana Corporation (USA) on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $10.

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 Company’s 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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