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NEW YORK (TheStreet) -- Encana (ECA) - Get Encana Corporation Report stock is plummeting 10.23% to $6.67 in early afternoon trading Tuesday after reporting a wider-than-expected loss in the 2016 first quarter. 

Before the market open, the oil and gas company reported an adjusted loss of 15 cents per share, compared to analysts' expectations for a loss of 12 cents per share. 

Cash flow, which indicates the company's ability to pay for new projects and drilling, plunged by 79.4% to $102 million. 

Encana was hurt as lower commodity prices resulted in a production decline of 11% to 383,400 barrels of oil equivalent per day during the most recent period.

The company is on track to deliver $550 million in cost savings this year, as it has been pressured to slash spending, reduce staff and divest assets to contend with the slump in oil and gas prices. 

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Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Encana's weaknesses include its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: ECA

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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