Dimensional Fund Advisors LP Sells 157,087 Shares of Encana Corporation (ECA)

Dimensional Fund Advisors LP lowered its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,197,341 shares of the oil and gas company’s stock after selling 157,087 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.33% of Encana Corporation worth $28,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ECA. BlackRock Inc. grew its stake in Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock valued at $256,403,000 after purchasing an additional 21,702,894 shares in the last quarter. CIBC Asset Management Inc grew its stake in Encana Corporation by 90.9% in the second quarter. CIBC Asset Management Inc now owns 6,575,705 shares of the oil and gas company’s stock valued at $57,790,000 after purchasing an additional 3,131,997 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Encana Corporation by 39.3% in the second quarter. Russell Investments Group Ltd. now owns 4,114,465 shares of the oil and gas company’s stock valued at $36,133,000 after purchasing an additional 1,161,706 shares in the last quarter. Contrarius Investment Management Ltd lifted its position in shares of Encana Corporation by 24.0% in the second quarter. Contrarius Investment Management Ltd now owns 5,808,284 shares of the oil and gas company’s stock worth $51,113,000 after buying an additional 1,125,380 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Encana Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock worth $265,086,000 after buying an additional 994,074 shares during the last quarter. Hedge funds and other institutional investors own 66.92% of the company’s stock.

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A number of brokerages have weighed in on ECA. Credit Suisse Group boosted their price target on Encana Corporation from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Morgan Stanley boosted their price target on Encana Corporation from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 19th. Citigroup Inc boosted their price target on Encana Corporation from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Raymond James Financial, Inc. boosted their price target on Encana Corporation from $15.00 to $16.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 19th. Finally, Scotiabank boosted their price target on Encana Corporation from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.16.

Encana Corporation (ECA) opened at $12.33 on Friday. The firm has a market cap of $11.72 billion, a P/E ratio of 28.69, a P/E/G ratio of 3.13 and a beta of 2.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.34 and a quick ratio of 1.34.

Encana Corporation Profile

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.

Institutional Ownership by Quarter for Encana Corporation (NYSE:ECA)

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