Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Encana Corp    ECA   CA2925051047

ENCANA CORP (ECA)
My previous session
Most popular
  Report  
End-of-day quote. End-of-day quote  - 01/23
9.075 CAD   +0.50%
01/16TSX rises 0.43 percent
RE
01/11TSX rises 0.24 percent
RE
01/10SIEMENSNPV : Encana selects Siemens to provide rotating equipment for Pipestone Processing Facility
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Encana operating profit rises 25 percent as production jumps

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/24/2013 | 06:48am EST

(Reuters) - Encana Corp (>> Encana Corporation), Canada's largest gas producer, reported a 25 percent increase in second-quarter operating profit as oil and natural gas liquids (NGL) volumes soared.

(Reuters) - Encana Corp (>> Encana Corporation), Canada's largest gas producer, reported a 25 percent increase in second-quarter operating profit as oil and natural gas liquids (NGL) volumes soared.

The company has been focusing on the development of more-lucrative oil and liquids-rich natural gas plays. Volumes of oil and NGL jumped 69 percent in the quarter.

Encana's strong results comes amid a rebound in natural gas prices, after a heatwave followed a chilly spring in the United States.

The benchmark price of the fuel on the New York Mercantile Exchange rose 75 percent in the second quarter from a year ago, when natural gas hit a 10-year low.

Encana said it expects full-year capital spending to be at the lower end of its forecast of $3.0 billion to $3.2 billion. Cash flow is expected to be in the middle to higher end of its forecast of $2.3 billion to $2.5 billion.

The company reported net profit of $730 million, compared with a loss of $1.48 billion a year earlier, when it reported a large asset impairment charge.

Operating income, which excludes most one-time items, rose to $247 million, or 34 cents per share, from $198 million, or 27 cents per share, a year earlier.

"My focus is on developing a strategy that will deliver sustainable growth in shareholder value during a period of modest commodity prices," said Chief Executive Doug Suttles, who took the helm last month.

Investors have been looking for signs that Suttles, a former BP Plc (>> BP plc) executive, will steer the company towards a new course after years of strategic missteps.

Encana has been criticized for spinning off the company's oil operations and stepping up natural gas production even as new shale gas supplies flooded the market.

The company also faces a U.S. Department of Justice probe into whether it illegally colluded with Chesapeake Energy Corp (>> Chesapeake Energy Corporation) to lower the price of exploration lands.

Encana said on Wednesday an internal strategy development team, which directly reports to Suttles, was thoroughly evaluating the company's assets, strengths and capabilities, current performance and competitive positioning.

(Reporting by Nia Williams in Calgary and Swetha Gopinath in Bangalore; Editing by Rodney Joyce and Saumyadeb Chakrabarty)

Stocks treated in this article : Chesapeake Energy Corporation, Encana Corporation, BP plc
Stocks mentioned in the article
ChangeLast1st jan.
BP -0.53% 509.9 End-of-day quote.3.36%
CHESAPEAKE ENERGY CORPORATION 1.29% 2.7754 End-of-day quote.30.48%
ENCANA CORP 0.50% 9.075 End-of-day quote.14.59%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ENCANA CORP
01/16TSX rises 0.43 percent
RE
01/14SIEMENSNPV : Siemens wins first N American gas processing plant deal
AQ
01/13SIEMENSNPV : Siemens wins first N American gas processing plant deal
AQ
01/13SIEMENSNPV : Siemens wins first N American gas processing plant deal
AQ
01/11TSX rises 0.24 percent
RE
01/10SIEMENSNPV : Encana selects Siemens to provide rotating equipment for Pipestone ..
AQ
01/09TSX rises 1.37 percent
RE
01/08ENCANA CORP : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
01/07Encana to participate in panel discussion at Goldman Sachs Energy Conference
GL
2018ENCANA CORP : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
More news
Financials ($)
Sales 2018 4 847 M
EBIT 2018 769 M
Net income 2018 247 M
Debt 2018 3 622 M
Yield 2018 0,91%
P/E ratio 2018 34,38
P/E ratio 2019 8,49
EV / Sales 2018 2,08x
EV / Sales 2019 1,42x
Capitalization 6 441 M
Chart ENCANA CORP
Duration : Period :
Encana Corp Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENCANA CORP
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 12,0 $
Spread / Average Target 77%
EPS Revisions
Managers
NameTitle
Douglas James Suttles President, CEO & Non-Independent Director
Clayton H. Woitas Chairman
Michael G. McAllister Chief Operating Officer & Executive Vice President
Sherri A. Brillon Chief Financial Officer & Executive Vice President
Suzanne P. Nimocks Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ENCANA CORP14.59%6 441
CONOCOPHILLIPS5.45%75 694
CNOOC LTD6.41%73 714
EOG RESOURCES11.07%56 169
OCCIDENTAL PETROLEUM CORPORATION9.21%49 167
CANADIAN NATURAL RESOURCES LTD4.25%31 063