NEW YORK (TheStreet) -- Encana Corp. (ECA) - Get Report  shares are rising 1.63% to $3.74 on Thursday afternoon despite declining oil prices. 

Crude oil (WTI) is decreasing 0.53% to $31.98 per barrel and Brent crude is sliding 0.41% to $34.27 per barrel.

Adding to the supply glut, U.S. crude stockpiles increased by 3.5 million barrels last week to total over 507 million barrels, the report from the U.S. Energy Information Administration (EIA) showed yesterday.

Globally, petroleum stocks have also increased by 800 million barrels since the start of 2014, Bank of America/Merill Lynch analysts told MarketWatch. 

Based in Canada, Encana engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the U.S.

Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D. 

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The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

Recently, 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 articles's author.

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

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