Encana Corporation (ECA) Stake Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 26.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,354,428 shares of the oil and gas company’s stock after selling 1,207,893 shares during the period. Dimensional Fund Advisors LP owned 0.34% of Encana Corporation worth $39,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axiom International Investors LLC DE raised its position in Encana Corporation by 39.9% in the first quarter. Axiom International Investors LLC DE now owns 2,150,900 shares of the oil and gas company’s stock worth $25,187,000 after buying an additional 613,910 shares during the last quarter. Geode Capital Management LLC raised its position in Encana Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 460,079 shares of the oil and gas company’s stock worth $5,358,000 after buying an additional 37,613 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Encana Corporation by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock worth $233,000 after buying an additional 124 shares during the last quarter. Vanguard Group Inc. raised its position in 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. Finally, Mackenzie Financial Corp raised its position in Encana Corporation by 3.2% in the first quarter. Mackenzie Financial Corp now owns 955,355 shares of the oil and gas company’s stock worth $11,187,000 after buying an additional 29,681 shares during the last quarter. 73.08% of the stock is currently owned by institutional investors.

Shares of Encana Corporation (NYSE:ECA) traded up 1.21% during trading on Friday, reaching $9.17. 10,295,786 shares of the company traded hands. The company has a market capitalization of $8.92 billion, a P/E ratio of 10.93 and a beta of 2.04. Encana Corporation has a 52 week low of $8.01 and a 52 week high of $13.85. The company’s 50-day moving average price is $9.48 and its 200-day moving average price is $10.51.

Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $773.19 million. During the same period last year, the firm posted $0.10 EPS. Equities research analysts forecast that Encana Corporation will post $0.50 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, September 14th. Encana Corporation’s dividend payout ratio (DPR) is currently 6.98%.

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Several brokerages have commented on ECA. Jefferies Group LLC set a $14.00 price objective on shares of Encana Corporation and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Barclays PLC reaffirmed an “overweight” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Encana Corporation in a research report on Saturday, April 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Encana Corporation in a research report on Monday, May 29th. BMO Capital Markets set a $13.00 price objective on shares of Encana Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Finally, Scotiabank lifted their price objective on shares of Encana Corporation from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $13.32.

About Encana Corporation

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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