Encana Corp (ECA.TO) Buy, Sell or Hold

Encana Corp (ECA.TO)

4.96

-0.23 (4.43%)

as of Jan 24, 2020, 9:00:00 pm Market Open.

267 watching

DON'T BUY

This stock has become incredibly weak. You have to believe that natural gas will stay around the $2.80 level before buying but the stock is telling you it won't stay there. $17 would probably be good value because at this point it is really discounting $2 gas.

COMMENT

(Market Call Minute.) Largest nat gas producer and nat gas prices are a little choppy right now. Would buy this over the next couple of months.

DON'T BUY

In a bit of a trading range between roughly $17 and $22. If this can break out to the positive again, he would be bullish on the stock.

DON'T BUY

Dividend is probably safe. It is a behemoth in natural gas. There are a couple of problems, 1 is their $6 hedging program is coming off. It is no longer a low cost producer. In this environment you want the lowest cost producer, which is Bona Vista. Leverage is high with ECA. Balance sheet used to be pristine. Management does not seem to have a strategy. He thinks it will flat line here and possibly go lower.

DON'T BUY

Doesn’t know what they can do. If you like gas, go for smaller, wet guys. E.g. Paramount. Gas is going to be volatile. It is matter of whether the market thinks storage will be full by September.

BUY

In the oil/gas stocks, this one dropped early and stayed down but is starting to come back. Have good assets. Gas is not dead. It will come back. It's very clean and energy efficient. This is a great way to participate. 4.1% dividend.

SELL

Cheap. Besides the fact that they are very heavily involved in natural gas, they have announced a very aggressive capital spending and to complete it, they are going to have to take on joint venture partners. With natural gas and natural gas liquids being under price pressure, partners may be more difficult to find. Also, claims that they and Chesapeake were involved in fixing bids for land could come back and bite them fairly badly.

DON'T BUY

Recently announced some pretty aggressive moves on expanding their operations. Technically it is trying to bottom with a mild breakout, which goes along with what happened to natural gas prices in the last few weeks. Usually doesn’t do well in June and going forward.

SELL

(Market Call Minute) Nat gas prices are depressed

WATCH

Future for natural gas is quite positive because NA will work towards self-sufficiency. Traded sideways since September, but we need to stronger economy and Nat Gas pricing before this one will go up. It’ll be tough for a little bit yet.

SELL

Best performing large cap oil/gas stock in Canada. Have good long-term assets and doing their best to shift towards liquids but not at a terribly compelling valuation right now, relative to other names. If you own, he would Sell thinking there is more downside. A $16-$17 price is more fair value today.

DON'T BUY

Dividend is save for now. A dry gas play. Second largest in terms of US gas production. Hedges fall off in 2013, but he feels gas could get quite cheap as inventory levels fill back up. It is going to move with gas.

DON'T BUY

Doing okay this year because they still hedged close to three quarters of the natural gas prices at much higher levels. What is going to happen in 2013 if we still have $2.30 natural gas? Natural gas story makes perfect sense but we are just 5 years too early.

BUY

Natural gas is in the worst place it has been in a long time. If you have a 3 to 5 year horizon, he expects there will be some improvements in this market. This company has the staying power to last through the drought period.

BUY

Likes this one for a long-term strategy. He is neutral on it and has a $22 target. This is a great time to be acquiring natural gas. You get paid to wait.

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Encana Corp (ECA.TO)