Today Encana Corporation (NYSE:ECA) Reported Decrease in Shorted Shares

January 18, 2018 - By Nellie Frank

 Today Encana Corporation (NYSE:ECA) Reported Decrease in Shorted Shares

The stock of Encana Corporation (NYSE:ECA) registered a decrease of 6.75% in short interest. ECA’s total short interest was 15.78 million shares in January as published by FINRA. Its down 6.75% from 16.92M shares, reported previously. With 5.62 million shares average volume, it will take short sellers 3 days to cover their ECA’s short positions. The short interest to Encana Corporation’s float is 1.79%.

The stock increased 1.04% or $0.14 during the last trading session, reaching $13.59. About 8.12 million shares traded. Encana Corporation (NYSE:ECA) has risen 50.13% since January 18, 2017 and is uptrending. It has outperformed by 33.43% the S&P500.

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company has market cap of $13.03 billion. The firm owns interests in various assets, such as the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations, including Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located offshore Nova Scotia. It has a 17.05 P/E ratio. It also holds interests in assets that comprise the Eagle Ford in south Texas; Permian in west Texas; San Juan in northwest New Mexico; Piceance in northwest Colorado; and Tuscaloosa Marine Shale in east Louisiana and west Mississippi.

Encana Corporation (NYSE:ECA) Ratings Coverage

Among 28 analysts covering Encana Corporation (NYSE:ECA), 21 have Buy rating, 2 Sell and 5 Hold. Therefore 75% are positive. Encana Corporation has $17.0 highest and $5.50 lowest target. $12.91’s average target is -5.00% below currents $13.59 stock price. Encana Corporation had 117 analyst reports since July 21, 2015 according to SRatingsIntel. The company was maintained on Tuesday, January 16 by RBC Capital Markets. The firm earned “Buy” rating on Tuesday, June 14 by Deutsche Bank. The stock of Encana Corporation (NYSE:ECA) earned “Buy” rating by Canaccord Genuity on Wednesday, September 27. Barclays Capital maintained Encana Corporation (NYSE:ECA) on Wednesday, October 25 with “Overweight” rating. The firm has “Hold” rating by Desjardins Securities given on Monday, June 5. The rating was maintained by BMO Capital Markets on Thursday, January 11 with “Buy”. The company was maintained on Tuesday, August 29 by Jefferies. The rating was maintained by Morgan Stanley with “Equal-Weight” on Thursday, October 19. The stock of Encana Corporation (NYSE:ECA) has “Equal-Weight” rating given on Tuesday, January 12 by Morgan Stanley. As per Thursday, April 7, the company rating was maintained by Citigroup.

More notable recent Encana Corporation (NYSE:ECA) news were published by: Fool.ca which released: “Should Encana Corp. Be in Your Portfolio?” on July 25, 2017, also Livetradingnews.com with their article: “Encana Corp (USA) (NYSE:ECA) Technicals Stock Consolidating” published on December 27, 2017, Fool.ca published: “Encana Corp.: Is the Sell-Off Overdone?” on July 10, 2017. More interesting news about Encana Corporation (NYSE:ECA) were released by: Fool.ca and their article: “Is Another Rally on the Horizon for Encana Corp.?” published on August 10, 2017 as well as Fool.ca‘s news article titled: “Encana Corp.’s Stock Down on Disappointing Q3 Results: Buy the Dip?” with publication date: November 08, 2017.

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