Encana Corporation (ECA) : 17 analysts are covering Encana Corporation (ECA) and their average rating on the stock is 2.59, which is read as a Hold. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Encana Corporation (ECA) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 3 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Encana Corporation (ECA) : Currently there are 15 street experts covering Encana Corporation (ECA) stock. The most bullish and bearish price target for the stock is $15 and $8 respectively for the short term. The average price target of all the analysts comes to $10.4. The estimated standard deviation from the target is $2.61.
Also, KLR Group initiates coverage on Encana Corporation (NYSE:ECA) The brokerage firm has issued a Hold rating on the shares. The rating by the firm was issued on August 29, 2016.
Encana Corporation (NYSE:ECA): After opening at $9.51, the stock dipped to an intraday low of $9.49 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $9.91 and the buying power remained strong till the end. The stock closed at $9.77 for the day, a gain of 3.83% for the day session. The total traded volume was 9,605,460. The stocks close on the previous trading day was $9.41.
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.