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Encana (ECA) Catches Eye: Stock Jumps 5.9%

Zacks Equity Research

Encana Corporation ECA was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $3.93 –$4.51 in the past one-month time frame, witnessed a sharp increase on Friday.

The move came after the company reported better-than-expected third-quarter 2019 results.

The company has seen three negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So, make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Encana currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Encana Corporation Price

Encana Corporation Price

Encana Corporation price | Encana Corporation Quote

Investors interested in the Oil and Gas - Exploration and Production – Canadian industry may consider Crescent Point Energy Corporation CPG, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is ECA going up? Or down? Predict to see what others think:Up or Down

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