EnCana (NYSE: ECA) was upgraded by research analysts at Societe Generale from a “hold” rating to a “buy” rating in a report issued on Wednesday.
Separately, analysts at Goldman Sachs (NYSE: GS) reiterated a “neutral” rating on shares of EnCana in a research note to investors on Tuesday, January 17th. Analysts at UBS AG (NYSE: UBS) downgraded shares of EnCana from a “buy” rating to a “neutral” rating in a research note to investors on Friday, January 13rd. Also, analysts at Bank of America (NYSE: BAC) downgraded shares of EnCana from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, January 12nd.
EnCana Corporation (EnCana) is a natural gas producing company. The Company operates in two divisions: Canadian Division and USA Division. EnCana’s operations are focused on exploiting North American natural gas formations, including tight gas, shales and coal bed methane (CBM). EnCana’s operations are primarily located in Canada and the United States. All of Encana’s reserves and production are located in North America. During the year ended December 31, 2010, the Company completed the acquisition of various lands and properties. Encana’s produced natural gas is primarily marketed to local distribution companies, industrials, other producers, and energy marketing companies. In December 2011, Encana Oil & Gas (USA) Inc., a subsidiary of Encana, closed the sale of the majority of its divestiture of North Texas natural gas producing properties. In January 2012, Direct Energy acquired the Company’s natural gas producing weighted assets in the Carrot Creek region of West Alberta.
Shares of EnCana opened at 18.67 on Wednesday. EnCana has a one year low of $17.02 and a one year high of $35.22. The stock’s 50-day moving average is $18.52 and its 200-day moving average is $22.05. The company has a market cap of $13.747 billion and a P/E ratio of 52.74.
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