Encana Corporation (ECA) has been under a strong bear grip, hence the stock is down -6.3% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.17% in the past 1 week. The stock has risen by 4.71% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.2% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 1.38% and the 50-Day Moving Average is 4.73%.
Encana Corporation (NYSE:ECA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.03 and $7.93 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.00, notching a gain of 0.25% for the day. The total traded volume was 10,608,904 . The stock had closed at $7.98 on the previous day.
The company Insiders own 0.26% of Encana Corporation shares according to the proxy statements. Institutional Investors own 62.84% of Encana Corporation shares.
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.