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CIBC reduced their price objective on shares of Encana (NYSE:ECA) from $25.50 to $24.75 in a research note issued on Thursday. The firm currently has a “sector perform” rating on the stock. CIBC’s target price points to a potential upside of 16.20% from the stock’s previous close.

Encana (NYSE:ECA) traded down 3.01% on Thursday, hitting $21.30. The stock had a trading volume of 5,051,212 shares. Encana has a 52 week low of $16.97 and a 52 week high of $24.83. The stock’s 50-day moving average is $23.34 and its 200-day moving average is $21.14. The company has a market cap of $15.783 billion and a P/E ratio of 20.72.

Encana (NYSE:ECA) last issued its quarterly earnings data on Tuesday, May 13th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.17. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, analysts predict that Encana will post $1.72 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Encana in a research note on Friday, July 11th. They now have a $23.00 price target on the stock. Separately, analysts at TD Securities downgraded shares of Encana from an “action list buy” rating to a “buy” rating in a research note on Friday, June 27th. They now have a $31.00 price target on the stock, up previously from $30.00. Finally, analysts at BMO Capital Markets raised their price target on shares of Encana from $27.00 to $29.00 in a research note on Friday, May 30th. They now have an “outperform” rating on the stock. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Encana presently has an average rating of “Hold” and an average price target of $25.58.

Encana Corporation (NYSE:ECA) is a North American energy producer.

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