Cerebellum GP LLC Purchases Shares of 44,229 Encana Corp (ECA)

Cerebellum GP LLC purchased a new position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) during the fourth quarter, Holdings Channel reports. The firm purchased 44,229 shares of the oil and gas company’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riverhead Capital Management LLC grew its position in shares of Encana by 421.1% in the third quarter. Riverhead Capital Management LLC now owns 8,338 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 6,738 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Encana in the third quarter valued at approximately $196,000. Csenge Advisory Group acquired a new position in shares of Encana in the third quarter valued at approximately $124,000. Freestone Capital Holdings LLC acquired a new position in shares of Encana in the third quarter valued at approximately $223,000. Finally, HRT Financial LLC acquired a new position in shares of Encana in the second quarter valued at approximately $228,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

In other Encana news, CEO Douglas James Suttles bought 5,000 shares of the business’s stock in a transaction on Thursday, December 20th. The stock was purchased at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the chief executive officer now directly owns 159,212 shares of the company’s stock, valued at $883,626.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sherri Anne Brillon purchased 17,250 shares of the company’s stock in a transaction dated Thursday, November 8th. The stock was purchased at an average price of $8.85 per share, with a total value of $152,662.50. Following the completion of the purchase, the chief financial officer now directly owns 114,165 shares in the company, valued at approximately $1,010,360.25. The disclosure for this purchase can be found here. Insiders have acquired 261,155 shares of company stock valued at $2,181,884 over the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Several equities analysts have recently commented on the company. Zacks Investment Research downgraded Encana from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. ValuEngine downgraded Encana from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Royal Bank of Canada cut their price target on Encana from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. MKM Partners began coverage on Encana in a research note on Wednesday, December 5th. They issued a “buy” rating and a $12.00 price target for the company. Finally, TheStreet cut Encana from a “c-” rating to a “d+” rating in a research note on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.81.

NYSE ECA opened at $6.74 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.70. Encana Corp has a fifty-two week low of $5.00 and a fifty-two week high of $14.28. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.26 and a beta of 1.97.

Encana (NYSE:ECA) (TSE:ECA) last released its earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Encana had a positive return on equity of 9.53% and a negative net margin of 3.98%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. As a group, analysts predict that Encana Corp will post 0.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Friday, December 14th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, December 13th. Encana’s payout ratio is presently 13.95%.

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Encana Profile

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

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Institutional Ownership by Quarter for Encana (NYSE:ECA)

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