|Bid||7.24 x 1200|
|Ask||7.24 x 42300|
|Day's Range||7.17 - 7.32|
|52 Week Range||5.00 - 14.28|
|Beta (3Y Monthly)||1.59|
|PE Ratio (TTM)||6.51|
|Forward Dividend & Yield||0.07 (1.04%)|
|1y Target Est||10.58|
"Halftime Report" trader Jon Najarian spots unusual options activity in shares of Encana and Bristol-Myers. Plus, a trade update on FedEx.
Chesapeake Energy shares slid 4% Friday, after Goldman Sachs downgraded the stock to sell and said it expects the company to have less favorable supply cost and corporate returns than rivals. Analysts led by Brian Singer said an analysis of U.S. supply cost/competitive positioning implications from 2018 reserve reports and its own projections for 2019 cash margins found that the median U.S. supply cost to achieve an 11% after-tax rate of return is $53 a barrel. That supports a $50 to $55 a barrel price range for West Texas Intermediate, the U.S. benchmark. Goldman's mid-cycle price is at the upper end of that range. Analysts are advising clients to buy low cost oil suppliers, Encana Corp. , Parsley Energy Inc. , Pioneer Natural Resources Co. , EOG Resources Inc. and Chevron Corp. , all of which are buy rated. (The note was published ahead of Chevron's acquisition earlier today of Anadarko Petroleum Corp.) Goldman is recommending selling stocks where their valuation post rally appears at odds with competitive positioning, downgrading Cheseapeake, California Resources Corp. and upgrading Murphy Oil Corp. to neutral. For Chesapeake, " we see less favorable supply cost and corporate returns and believe further leverage improvement is still warranted post-WRD (Wildhorse) acquisition," they wrote in a note. Chesapeake shares have gained 1.3% in the last 12 months, while the S&P 500 has gained 8.9%.
CALGARY, Alberta, April 10, 2019 -- Encana Corporation (NYSE, TSX: ECA) plans to release its 2019 first quarter financial and operating results prior to market open on Tuesday,.
Encana (ECA) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
After weeks of stagnation, Encana (NYSE:ECA) is poised for bigger things. The Canadian exploration and production company completed its purchase of Newfield Exploration in February. ECA stock could finally see a move higher for a couple of reasons.Source: Shutterstock This makes Encana the second-largest producer of unconventional resources in North America. More important, the company also appears poised to benefit from rising oil prices.Due to the increasing value of its unconventional energy, Encana stock looks poised to drill for increasing value.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The Elite 8 Stocks to Buy for Massive Outperformance ECA Stock and an Oil-Focussed ApproachBased in Calgary, Alberta, Encana owns key assets in the Duvernay and Montney resources in the Canadian Rockies. ECA also benefits from substantial holdings in Texas's Permian Basin and Eagle Ford shales.Now, the Newfield deal brings access to fields in the Anadarko Basin in Oklahoma. Moreover, much like its embattled peer Chesapeake Energy (NYSE:CHK), it moves to decrease its dependence on natural gas. Thanks to the assets from Newfield, liquids will now make up more than 50% of the company's total production.ECA also has moved to enhance its financial stability. It has paid down more than half of the debt it had built up from the energy boom in the early part of the decade.Holding $3.7 billion in long-term debt may look heavy compared to its $7.45 billion in stockholders' equity. Still, it compares well to close competitors such as Marathon Oil (NYSE:MRO) and larger peers such as ConocoPhillips (NYSE:COP) The Encana RecoverySince hitting lows in 2016, revenues have trended higher every year. The company returned to profitability in 2017. Despite falling back this year, analysts expect profit growth to resume next year. On average, Wall Street forecasts 12.52% earnings growth per year over the next five years for ECA. And this stands despite a forward price-to-earnings (PE) ratio of only 7.6.In some respects, one can understand the low multiple. Encana operates in the volatile upstream oil market. Exploration and production companies depend on higher oil prices to remain profitable. Hence, ECA and its peers will likely take a hit if another oil price slump occurs.Indeed, the oil price slump of late last year took the stock from the $13 per share level to as low as $5 per share by late December. It quickly recovered to the $7 per share level by mid-January. However, ECA has seen little movement since then. OPEC and ECA stockThat could change. Due to the Newfield deal, Encana raised its dividend from 1.5 cents to 1.9 cents per share every quarter. Moreover, ECA shareholders appear positioned to receive a much larger "payout" thanks to OPEC.As oil prices go so goes upstream oil stocks. This becomes even more true for ECA as the production of liquids becomes increasingly important. Members of OPEC and ten non-OPEC countries instituted production cuts in early January. This had led to a substantial turnaround.WTI Crude briefly traded below $43 per barrel in late December. Now with the reductions, prices have rebounded above $60 per barrel. If the market can sustain or exceed that price point on oil, ECA \will probably receive the boost it needs to return to double-digit price levels. Final Thoughts on ECA StockDue to a de facto status as a proxy for oil price, ECA stock should rise along with these prices. The recent purchase of Newfield makes Encana more of an oil than a natural gas company.For this reason, it stands to benefit more from rising oil prices than it had in the past. Now, with the OPEC-led production costs pushing oil prices higher, its drilling activity should lead to more profits.As things stand now, the production cut will only hold until the end of June. Admittedly, if production cuts end and prices fall back, the near-term investment prospects could fall apart. Still, for at least the next three months, investors should like what they see from ECA stock.As of this writing, Will Healy is long CHK stock. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Transformed Their Business * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos * 7 Weak Blue-Chip Stocks to Trim Immediately Compare Brokers The post ECA Stock Is Right Where It Needs to Be as Oil Prices Start Rising appeared first on InvestorPlace.
Encana Corp. said Thursday Chief Financial Officer Sherri Brillon will retire effective May 1, after 10 years in the role. The energy producer said it appointed Corey Code, a 20-year veteran of the company, was most recently vice president, investor relations and strategy, and has served as treasurer. The stock, which was still inactive in premarket trade, has soared 29.9% year to date, while the SPDR Energy Select Sector ETF has climbed 16.5% and the S&P 500 has rallied 12.7%.
Encana Corporation (NYSE, TSX: ECA) today announced the appointment of Corey D. Code as Executive Vice-President & Chief Financial Officer, effective May 1, 2019. Sherri A. Brillon, who has served as Encana’s CFO since 2009, will be retiring at the end of May 2019. “We are pleased that Corey will be joining our Executive Leadership Team,” said Doug Suttles, Encana President & CEO.
NEW YORK, March 05, 2019 -- In new independent research reports released early this morning, Capital Review released its latest key findings for all current investors, traders,.
Encana Corp NYSE:ECAView full report here! Summary * Perception of the company's creditworthiness is neutral but improving * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for ECA with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting ECA. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold ECA had net inflows of $357 million over the last one-month. Economic sentimentPMI by IHS MarkitThere is no PMI sector data available for this security. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator with a strengthening bias over the past 1-month. ECA credit default swap spreads are decreasing, indicating some improvement in the market's perception of the company's credit worthiness. Additionally, they are within the middle of the range set over the last three years.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Moody's Investors Service (Moody's) changed Veresen Midstream Limited Partnership's (VMLP) rating outlook to negative from positive. The Ba3 Corporate Family Rating (CFR), B1-PD Probability of Default Rating and Ba3 senior secured credit facilities were affirmed.
When the deal was announced in November, it was expected to result in $250 million in annual synergies, half of which will come from general and administrative costs.
* The Toronto Stock Exchange's S&P/TSX fell 75.29 points, or 0.47 percent, to 15,999.01. * Leading the index were AltaGas Ltd, up 7.5 percent after its quarterly results and outlook, Encana Corp up 6.7 ...
As of Dec 31, 2018, Encana's (ECA) proved reserves are 1,215.7 million barrels of oil equivalent (52% liquids), marking 53% growth on a year-over-year basis.
Encana Corp topped analysts' estimates for quarterly profit on Thursday as the Canadian company's output rose 20 percent and it sold crude at higher prices, sending its U.S. shares up 6 percent. The Calgary-based company increased its acreage in the SCOOP and STACK region, a fast-growing shale oil field in the Anadarko basin in Oklahoma, with the purchase of Newfield Exploration Co for $5.5 billion in November. With the Newfield deal, Encana's focus has returned to its core assets in the Permian and Anadarko basins in the United States and Montney in Canada.
Futures pointed to a lower opening for Canada's main stock index on Thursday as U.S. President Donald Trump walked away from a nuclear deal at a summit with North Korea. The summit in Vietnam ended abruptly ...
NEW YORK, NY / ACCESSWIRE / February 28, 2019 / Encana Corporation (NYSE: ECA ) will be discussing their earnings results in their 2018 Fourth Quarter Earnings to be held on February 28, 2019 at 9:00 AM ...
Canadian oil and gas producer Encana Corp on Thursday reported a quarterly profit on a $941 million gain compared with a loss a year ago. Encana posted a net income of $1.03 billion, in the fourth quarter ...
Encana (NYSE, TSX: ECA) announced its 2019 capital investment program. The outlook is aligned with Encana’s strategy which returns cash to shareholders through disciplined investments to profitably grow liquids in its Core 3 plays.
Fourth quarter and full-year 2018 highlights: Fourth quarter total production of 403,400 barrels of oil equivalent per day (BOE/d)Fourth quarter liquids production grew more.
Encana (NYSE, TSX: ECA) announced today receipt of regulatory approvals for its planned $1.25 billion share buyback. On February 27, 2019, the Toronto Stock Exchange (TSX) accepted its notice of intention to renew its normal course issuer bid (NCIB) through which Encana may purchase up to 149,425,839 common shares during the 12-month period commencing March 4, 2019 and ending March 3, 2020. The number of shares authorized for purchase represents 10 percent of Encana's public float as of February 27, 2019.