BMO Capital Thinks Encana Corp’s Stock is Going to Recover

By Jason Carr

In a report released yesterday, Randy Ollenberger from BMO Capital reiterated a Buy rating on Encana Corp (NYSE: ECA), with a price target of $12. The company’s shares closed yesterday at $8.42, close to its 52-week high of $13.85.

According to, Ollenberger is ranked 0 out of 5 stars with an average return of -11.2% and a 25.6% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Sanchez Energy Corporation, and Spectra Energy Partners.

Currently, the analyst consensus on Encana Corp is Moderate Buy and the average price target is $13.38, representing a 58.9% upside.

In a report issued on June 12, GMP FirstEnergy also reiterated a Buy rating on the stock with a $13.25 price target.

The company has a one year high of $13.85 and a one year low of $7.34. Currently, Encana Corp has an average volume of 12.24M.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECA in relation to earlier this year.

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Encana Corp. operates as a natural gas company. It focuses on developing its portfolio of diverse resource plays producing natural gas, oil and natural gas liquids. The company operates through three segments: Canadian, the United States of America and Market Optimization.