NEW YORK (TheStreet) -- Shares of Encana Corp. (ECA - Get Report) are up 1.60% to $21.64 as the Canadian energy company prepares to sell its Deep Panuke offshore project in Nova Scotia later this year, sources told Bloomberg.
The country's largest natural gas producer is moving toward production of more oil.
Encana is working with financial advisers as it explores a sale, which may raise $1 billion to $2 billion, sources added, according to Bloomberg.
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- ECA's very impressive revenue growth greatly exceeded the industry average of 3.2%. Since the same quarter one year prior, revenues leaped by 78.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
- ENCANA CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. During the past fiscal year, ENCANA CORP turned its bottom line around by earning $0.31 versus -$3.79 in the prior year.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 126.9% when compared to the same quarter one year prior, rising from -$431.00 million to $116.00 million.
- Net operating cash flow has significantly increased by 178.99% to $943.00 million when compared to the same quarter last year. In addition, ENCANA CORP has also vastly surpassed the industry average cash flow growth rate of 17.51%.
- The gross profit margin for ENCANA CORP is rather high; currently it is at 55.44%. It has increased significantly from the same period last year. Regardless of the strong results of the gross profit margin, the net profit margin of 6.13% trails the industry average.
- You can view the full analysis from the report here: ECA Ratings Report