Encana Corp. (NYSE:ECA) fell 3.5% during trading on Thursday . The stock traded as low as $7.34 and last traded at $7.39, with a volume of 10,424,848 shares trading hands. The stock had previously closed at $7.66.

Several research firms have commented on ECA. Barclays PLC cut their target price on Encana Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 1st. Deutsche Bank AG boosted their target price on Encana Corp. from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. FirstEnergy Capital cut Encana Corp. from a “market perform” rating to an “underperform” rating in a research note on Thursday, March 24th. Jefferies Group restated a “buy” rating and issued a $11.00 target price (up previously from $8.00) on shares of Encana Corp. in a research note on Wednesday, May 4th. Finally, Evercore ISI cut Encana Corp. from a “buy” rating to a “hold” rating and cut their target price for the company from $9.00 to $8.00 in a research note on Friday, April 15th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $8.59.

The company’s 50-day moving average price is $7.94 and its 200 day moving average price is $6.00. The stock’s market cap is $6.49 billion.

Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.03. During the same period last year, the company posted $0.01 earnings per share. On average, equities research analysts predict that Encana Corp. will post ($0.30) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.79%.

A number of hedge funds have modified their holdings of ECA. Trexquant Investment LP acquired a new stake in shares of Encana Corp. during the fourth quarter worth approximately $1,602,000. Wells Fargo & Company MN raised its stake in shares of Encana Corp. by 88.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,880,440 shares of the company’s stock worth $9,572,000 after buying an additional 882,374 shares during the period. Morgan Stanley raised its stake in shares of Encana Corp. by 23.1% in the fourth quarter. Morgan Stanley now owns 2,944,743 shares of the company’s stock worth $14,990,000 after buying an additional 552,204 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Encana Corp. by 1.1% in the fourth quarter. Gulf International Bank UK Ltd now owns 264,867 shares of the company’s stock worth $1,347,000 after buying an additional 3,000 shares during the period. Finally, Quantitative Investment Management LLC raised its stake in shares of Encana Corp. by 1,403.5% in the fourth quarter. Quantitative Investment Management LLC now owns 557,800 shares of the company’s stock worth $2,839,000 after buying an additional 520,700 shares during the period.

Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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.

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