Trexquant Investment LP boosted its stake in shares of Encana (NYSE:ECA) (TSE:ECA) by 193.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 186,239 shares of the oil and gas company’s stock after purchasing an additional 122,738 shares during the period. Trexquant Investment LP’s holdings in Encana were worth $2,049,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Hartree Partners LP grew its holdings in shares of Encana by 185.7% during the first quarter. Hartree Partners LP now owns 410,750 shares of the oil and gas company’s stock worth $4,518,000 after buying an additional 267,000 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Encana by 18.1% in the 1st quarter. Stephens Inc. AR now owns 154,412 shares of the oil and gas company’s stock valued at $1,699,000 after acquiring an additional 23,694 shares during the last quarter. Atria Investments LLC increased its holdings in shares of Encana by 26.9% in the 1st quarter. Atria Investments LLC now owns 38,335 shares of the oil and gas company’s stock valued at $422,000 after acquiring an additional 8,131 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Encana by 14.2% in the 1st quarter. CIBC Asset Management Inc now owns 13,607,541 shares of the oil and gas company’s stock valued at $149,436,000 after acquiring an additional 1,691,048 shares during the last quarter. Finally, Atwood & Palmer Inc. bought a new stake in shares of Encana in the 1st quarter valued at approximately $10,664,000. Institutional investors own 69.17% of the company’s stock.
Shares of Encana traded down $0.25, hitting $13.49, on Friday, MarketBeat.com reports. The company’s stock had a trading volume of 327,816 shares, compared to its average volume of 9,478,921. Encana has a 12 month low of $13.35 and a 12 month high of $13.59. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.27 and a beta of 2.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.16 and a current ratio of 1.16.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, June 14th. Encana’s payout ratio is currently 13.95%.
Encana declared that its Board of Directors has approved a share buyback plan on Thursday, February 15th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
A number of equities research analysts have recently weighed in on the company. Tudor Pickering downgraded Encana from a “buy” rating to a “hold” rating in a report on Thursday, May 10th. TD Securities lowered their price target on Encana from $16.50 to $16.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. ValuEngine upgraded Encana from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Morgan Stanley lowered their price target on Encana from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, April 16th. Finally, Goldman Sachs lowered their price objective on Encana from $17.25 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Encana currently has an average rating of “Buy” and a consensus target price of $15.28.
In other news, Director Howard John Mayson bought 2,500 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were bought at an average cost of $10.53 per share, with a total value of $26,325.00. Following the transaction, the director now directly owns 25,104 shares in the company, valued at approximately $264,345.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Suzanne P. Nimocks bought 5,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $10.62 per share, for a total transaction of $53,100.00. Following the completion of the transaction, the director now owns 10,600 shares in the company, valued at $112,572. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,500 shares of company stock worth $133,265. Insiders own 0.08% of the company’s stock.
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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