Encana Corporation (ECA) has an average broker rating of 2.6, which is interpreted as a Hold, as rated by 15 equity analysts. Nonetheless, 6 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 6 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy. 3 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.
Encana Corporation (ECA) : Average target price received by Encana Corporation (ECA) is $8.96 with an expected standard deviation of $2.55. The most aggressive target on the stock is $15, whereas the most downbeat target is $6. 13 financial analysts are currently covering the stock.
Encana Corporation (NYSE:ECA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.54 and $7.39 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.66, notching a gain of 0.66% for the day. The total traded volume was 6,995,926 . The stock had closed at $7.61 on the previous day.
Also, In the latest statement by the brokerage house, Macquarie downgrades its outlook on Encana Corporation (NYSE:ECA). The current rating of the shares is Underperform, according to the research report released by the firm. Previously, the company had a rating of Neutral. The rating by the firm was issued on June 23, 2016. The company shares have dropped -23.44% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $10.46 and the one year low was seen on Feb 23, 2016. The 50-Day Moving Average price is $7.93 and the 200 Day Moving Average price is recorded at $5.96.
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.