Key Group Holdings Cayman LTD Cut Encana (ECA) Position By $83.12 Million; Statoil Asa (STO) Sellers Increased By 18.72% Their Shorts

June 2, 2017 - By Hazel Jackson

Key Group Holdings Cayman Ltd decreased Encana Corp (ECA) stake by 83.56% reported in 2016Q4 SEC filing. Key Group Holdings Cayman Ltd sold 7.56M shares as Encana Corp (ECA)’s stock declined 8.34%. The Key Group Holdings Cayman Ltd holds 1.49 million shares with $17.44M value, down from 9.04 million last quarter. Encana Corp now has $9.45 billion valuation. The stock declined 2.19% or $0.22 reaching $9.6 per share. About 5.21M shares traded. Encana Corp (USA) (NYSE:ECA) has risen 50.13% since June 2, 2016 and is uptrending. It has outperformed by 33.43% the S&P500.

Statoil Asa (NYSE:STO) had an increase of 18.72% in short interest. STO’s SI was 6.76 million shares in June as released by FINRA. Its up 18.72% from 5.69 million shares previously. With 1.94M avg volume, 4 days are for Statoil Asa (NYSE:STO)’s short sellers to cover STO’s short positions. The SI to Statoil Asa’s float is 0.64%. About 834,879 shares traded. Statoil ASA(ADR) (NYSE:STO) has risen 12.95% since June 2, 2016 and is uptrending. It has underperformed by 3.75% the S&P500.

Analysts await Encana Corp (USA) (NYSE:ECA) to report earnings on July, 20. They expect $0.05 EPS, down 50.00% or $0.05 from last year’s $0.1 per share. ECA’s profit will be $49.22 million for 48.00 P/E if the $0.05 EPS becomes a reality. After $0.11 actual EPS reported by Encana Corp (USA) for the previous quarter, Wall Street now forecasts -54.55% negative EPS growth.

Among 24 analysts covering Encana Corporation (NYSE:ECA), 16 have Buy rating, 2 Sell and 6 Hold. Therefore 67% are positive. Encana Corporation had 68 analyst reports since July 21, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of ECA in report on Thursday, February 25 with “Sector Perform” rating. The rating was initiated by KLR Group on Monday, August 29 with “Hold”. RBC Capital Markets upgraded the shares of ECA in report on Friday, November 4 to “Outperform” rating. The stock has “Outperform” rating by Macquarie Research on Tuesday, January 24. The firm has “Buy” rating given on Wednesday, December 9 by Deutsche Bank. On Saturday, September 5 the stock rating was maintained by BMO Capital Markets with “Buy”. The company was maintained on Monday, September 14 by Citigroup. The rating was upgraded by Barclays Capital to “Overweight” on Tuesday, October 11. The firm has “Buy” rating by Jefferies given on Thursday, October 6. The stock has “Underperform” rating by Macquarie Research on Thursday, June 23.