In a report released today, Benny Wong from Morgan Stanley maintained a Hold rating on Encana Corp (ECA), with a price target of $11. The company’s shares opened today at $7.44, close to its 52-week low of $7.14.
According to TipRanks.com, Wong ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.1% and a 27.6% success rate. Wong covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Valero Energy Corp, and Phillips 66.
Currently, the analyst consensus on Encana Corp is a Moderate Buy with an average price target of $14.77, a 98.5% upside from current levels. In a report issued on November 5, BMO Capital also downgraded the stock to Hold with a $12 price target.
.
See today’s analyst top recommended stocks >>
Based on Encana Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.5 billion and net profit of $39 million. In comparison, last year the company had a net profit of $294 million.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECA in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Encana Corp. engages in the production of natural gas, oil, and natural gas liquids. It operates through the following segments: Canadian Operations, USA Operations and Market Optimization.
