Basic Material new Highs: Encana Corporation (NYSE:ECA), Suncor Energy (NYSE:SU), Abraxas Petroleum (NASDAQ:AXAS), BHP Billiton Limited (ADR) (NYSE:BHP)

Encana Corporation (USA) (NYSE:ECA) is engaged in energy production, majorly dealing in oil, natural gas and natural gas liquids. The company can sometimes baffle you. It recently announced a deal to sell one of its lucrative natural gas operations in Jonah field, Wyoming. Companies usually divest underperforming businesses to allow greater focus on performing operations. But Encana can always do it differently. Encana Corporation (USA) (NYSE:ECA) shares after opening at $21.76 moved to $22.72 on last trade day and at the end of the day closed at $22.67. Company price to sales ratio in past twelve months was calculated as 2.87 and price to cash ratio as 6.56. Encana Corporation (USA) (NYSE:ECA) showed a positive weekly performance of 6.38%.

Suncor Energy (NYSE:SU) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins. Suncor Energy Inc. (USA) (NYSE:SU) shares advanced 2.62% in last trading session and ended the day on $36.49. SU return on equity ratio is recorded as 12.30% and its return on assets is 6.40%. Suncor Energy Inc. (USA) (NYSE:SU) yearly performance is 27.23%.

Stock analysts at SunTrust hoisted their price objective on shares ofAbraxas Petroleum Corp. (NASDAQ:AXAS) from $3.50 to $4.00 in a report issued on Thursday, AnalystRatings.NET reports. The firm currently has a “neutral” rating on the stock. SunTrust’s price target points to a potential upside of 2.83% from the stock’s previous close. Abraxas Petroleum Corp. (NASDAQ:AXAS) shares moved up 3.71% in last trading session and was closed at $4.19, while trading in range of $4.01-$4.29. Abraxas Petroleum Corp. (NASDAQ:AXAS) year to date performance is 28.53%.

BHP Billiton Limited (ADR) (NYSE:BHP), the world’s biggest miner, is bullish on coal demand, expecting it to remain strong for the next 20 years. Speaking at a Committee for Economic Development of Australia (CEDA) meeting on Wednesday, BHP’s global coal business president, Dean Dalla Valle, said he thinks the demand for energy and metallurgical coal will grow in the coming years, with excess supply exerting downward pressure on coal prices. BHP Billiton Limited (ADR) (NYSE:BHP) weekly performance is 3.38%. On last trading day company shares ended up $71.50. BHP Billiton Limited (ADR) (NYSE:BHP) distance from 50-day simple moving average is 8.06%. Analysts mean target price for the company is $63.22.