Campbell & CO Investment Adviser LLC bought a new position in Encana Corporation (NYSE:ECA) (TSE:ECA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,060 shares of the oil and gas company’s stock, valued at approximately $177,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ECA. Commerce Bank purchased a new stake in shares of Encana during the third quarter valued at $118,000. Stevens Capital Management LP purchased a new stake in shares of Encana during the second quarter valued at $102,000. Gotham Asset Management LLC purchased a new stake in shares of Encana during the second quarter valued at $109,000. Equity Investment Corp Acquisition Inc boosted its position in shares of Encana by 5.4% during the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 666 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its position in shares of Encana by 13.3% during the second quarter. First Allied Advisory Services Inc. now owns 13,351 shares of the oil and gas company’s stock valued at $119,000 after buying an additional 1,567 shares during the last quarter. 68.98% of the stock is currently owned by hedge funds and other institutional investors.
Encana Corporation (NYSE ECA) opened at $12.11 on Monday. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $11,784.42, a PE ratio of 30.27, a price-to-earnings-growth ratio of 3.51 and a beta of 2.16.
Several equities research analysts recently commented on ECA shares. Canaccord Genuity set a $12.00 price objective on Encana and gave the company a “buy” rating in a research report on Thursday, August 17th. BidaskClub cut Encana from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Jefferies Group reaffirmed a “buy” rating and set a $12.00 price objective (down from $13.00) on shares of Encana in a research report on Tuesday, August 29th. Sanford C. Bernstein raised Encana from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $14.00 in a research report on Friday, September 15th. Finally, Royal Bank Of Canada increased their price objective on Encana from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $14.43.
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Encana Company 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.
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