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Wall Street Analysts’ Forecasts after Encana’s 3Q16 Earnings

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Wall Street analysts’ ratings for Encana

Currently, ~46% of Wall Street analysts rate Encana (ECA) as a “buy,” and ~36% of analysts rate it as a “hold.” Around 18% rate the stock a “sell.” The median price target from these recommendations is $12.58, which is ~28% higher than the November 4, 2016, closing price of $9.80.

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Encana’s individual recommendations

The above table shows Wall Street analyst forecasts for Encana following its latest earnings release. As shown in the above table, the most recent recommendation of “outperform” comes from BMO Capital Markets, which was issued on November 4, 2016. BMO Capital Markets assigned Encana the target price of $14, which is ~42% higher than the November 4, 2016, closing price of $9.80. BMO Capital Markets didn’t assign a target date for the target price.

Nomura assigned Encana the highest target price of $15, which is ~53% higher than the November 4, 2016, closing price of $9.80 within 12 months. Nomura issued its ECA recommendation on November 3.

Other oil and gas producers

Based on the median price targets of recommendations from Wall Street analysts, other upstream companies like QEP Resources (QEP), Gulfport Energy (GPOR), and Parsley Energy (PE) have potential upsides of ~52%, ~50%, and ~27%, respectively, from their November 4 closing prices.

The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies, whereas the Vanguard Energy ETF (VDE) invests into the broader energy market.

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