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ECA

Encana

$8.10

-0.31 (-3.69%)

15:00
11/13/18
11/13
15:00
11/13/18
15:00

Encana option volume hits year high as shares touch year lows

Encana option volume hits year high as shares touch year lows. Shares trading down 20c to $8.21 this afternoon with nearly 100K contracts trading and calls leading puts 2:1. Most of the action is taking place on NYSE-Arca, including a trader selling 20,200 April 9 straddles at 2.33, buying 29400 April 5 puts for 12.5c, and buying 7010 April 13c for 18c. A very similar structure traded last Friday when shares were 50c higher, suggesting that today's straddle sale, covered a bit by the wing trades, could be additive.

ECA Encana
$8.10

-0.31 (-3.69%)

11/05/18
BMOC
11/05/18
DOWNGRADE
Target $12
BMOC
Market Perform
Encana downgraded to Market Perform at BMO Capital on Newfield deal
As reported earlier, BMO Capital analyst Randy Ollenberger downgraded Encana (ECA) to Market Perform from Outperform and lowered his price target to $12 from $18. The analyst says the company's "solid" Q3 results were "overshadowed" by its proposed $7.7B acquisition of Newfield Exploration (NFX) that produced a "material selloff" in its stock price, reflecting investors concerns over the "asset base and a shift in the underlying investment thesis" of the latter. Ollenberger contends that while the sell-off may be overdone, he expects the stock price to trade range-bound until more visibility over the benefits of the deal emerge.
11/05/18
11/05/18
DOWNGRADE

Equal Weight
Encana downgraded to Equal Weight on Newfield deal risk at Morgan Stanley
As previously reported, Morgan Stanley analyst Benny Wong downgraded Encana (ECA) to Equal Weight from Overweight, stating that he gives 50% credit to the targeted $250M in synergies the company outlined in its announcement of its deal to buy Newfield Exploration (NFX), but not the other half since Encana's Cube approach has not been tried before in the STACK/SCOOP play. The OKC play comes with concern around inventory quality and higher gas-oil ratios, added Wong, who now views Encana as a "show me" story. He lowered his price target on Encana shares to $15 from $19 and also raised his price target on Newfield shares to $31 to $23.
11/05/18
WOLF
11/05/18
DOWNGRADE
WOLF
Peer Perform
Encana downgraded to Peer Perform from Outperform at Wolfe Research (pre-open)
11/05/18
11/05/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) downgraded to Sell from Hold at DZ Bank. 2. Encana (ECA) downgraded to Equal Weight from Overweight at Morgan Stanley and to Market Perform from Outperform at BMO Capital. 3. Hilton (HLT) downgraded to Hold from Buy at Argus with analyst John Staszak saying that while the company is seeing success from its franchised business model, some of its markets are facing more challenging economic conditions and competition from other hoteliers and Airbnb is growing tighter. 4. Motorola Solutions (MSI) downgraded to Hold on valuation at Gabelli with analyst Hendi Susanto citing valuation. 5. UMC (UMC) downgraded to Sell from Underperform at CLSA with the firm's analyst citing the U.S. federal grand jury indictment into the company's potential involvement in IP-theft from Micron (MU). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

CATS

Catasys

$12.85

-0.28 (-2.13%)

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VG

Vonage

$9.48

0.185 (1.99%)

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    Nov

HON

Honeywell

$168.22

-0.79 (-0.47%)

08:31
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  • 29

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DB

Deutsche Bank

$8.76

-0.015 (-0.17%)

, CRZBY

Commerzbank

$0.00

(0.00%)

08:29
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Periodicals
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DB

Deutsche Bank

$8.76

-0.015 (-0.17%)

CRZBY

Commerzbank

$0.00

(0.00%)

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  • 26

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  • 03

    Jun

AMZN

Amazon.com

$1,888.10

25.99 (1.40%)

08:29
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Recommendations
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  • 25

    Apr

  • 10

    May

  • 22

    May

  • 03

    Jun

NOG

Northern Oil and Gas

$2.73

0.125 (4.81%)

08:26
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08:26
Conference/Events
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  • 23

    Apr

  • 23

    May

SNAP

Snap

$11.53

-0.14 (-1.20%)

08:25
04/23/19
04/23
08:25
04/23/19
08:25
Recommendations
Snap analyst commentary at Credit Suisse »

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  • 23

    Apr

VNE

Veoneer

$29.20

-0.07 (-0.24%)

, VC

Visteon

$80.82

-1.65 (-2.00%)

08:25
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08:25
Upgrade
Veoneer, Visteon rating change  »

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VNE

Veoneer

$29.20

-0.07 (-0.24%)

VC

Visteon

$80.82

-1.65 (-2.00%)

03/08/13
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  • 25

    Apr

  • 08

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  • 23

    May

TWTR

Twitter

$34.39

-0.01 (-0.03%)

08:23
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04/23
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Breaking Hot Stocks news story on Twitter »

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  • 23

    Apr

  • 20

    May

PRO

Pros Holdings

$43.61

0.705 (1.64%)

08:23
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Recommendations
Pros Holdings analyst commentary at RBC Capital »

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  • 25

    Apr

  • 07

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TWTR

Twitter

$34.39

-0.01 (-0.03%)

08:22
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Breaking Hot Stocks news story on Twitter »

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  • 23

    Apr

  • 20

    May

PI

Impinj

$20.47

0.65 (3.28%)

08:21
04/23/19
04/23
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Initiation
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  • 29

    Apr

TACT

Transact Technologies

$9.23

0.21 (2.33%)

08:21
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Conference/Events
Transact Technologies to hold a product demonstration of BOHA »

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  • 23

    Apr

$DJT

DJ Transportation Average

$0.00

(0.00%)

08:20
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DJ Transportation Average: Pivot points »

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ETTX

Entasis Therapeutics

$5.94

0.19 (3.30%)

08:20
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Entasis Therapeutics appoints Eric Kimble as CCO »

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$DJU

DJ Utility Average

$0.00

(0.00%)

08:20
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DJ Utility Average: Pivot points »

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

08:20
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Dow Jones Industrial Average: Pivot points »

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IYT

iShares Transportation Average

$197.37

-0.195 (-0.10%)

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XLK

Technology Select Sector SPDR

$78.00

0.17 (0.22%)

08:19
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Technology Select Sector SPDR: Pivot points »

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XLE

Energy Select Sector SPDR

$68.61

1.44 (2.14%)

08:19
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Energy Select Sector SPDR: Pivot points »

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XLY

Consumer Discretionary Sector SPDR

$118.83

-0.43 (-0.36%)

08:19
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XLB

S&P Select Materials SPDR

$57.43

-0.37 (-0.64%)

08:18
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XLU

Utilities SPDR

$57.23

-0.06 (-0.10%)

08:18
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NMRD

Nemaura Medical

$0.98

-0.06 (-5.77%)

08:18
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XLP

Consumer Staples Sector SPDR

$56.87

0.01 (0.02%)

08:18
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Consumer Staples Sector SPDR: Pivot points »

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