In a bold strategic move, Encana (NYSE:ECA) will significantly accelerate its plan to transition its portfolio and grow shareholder value through an agreement reached with Freeport-McMoRan for Encana’s wholly owned subsidiary, Encana Oil & Gas (USA) Inc., to acquire approximately 45,500 net acres in Karnes, Wilson and Atascosa counties of south Texas for about US$3.1 billion. The acreage produced approximately 53,000 barrels of oil equivalent per day (boe/d) in the first quarter of 2014 and has an estimated drilling inventory of more than 400 locations. The area is widely known as being in the heart of the oil-rich Eagle Ford resource play. The deal, which Encana anticipates will be accretive to 2014 cash flow, will approximately double the Company’s current oil production and significantly enhance its continuing efforts to reposition to a more balanced commodity portfolio. Encana Corporation (USA)(NYSE:ECA) shares after opening at $23.30 moved to $23.93 on last trade day and at the end of the day closed at $23.57. Company price to sales ratio in past twelve months was calculated as 2.99 and price to cash ratio as 6.82. Encana Corporation (USA)(NYSE:ECA) showed a positive weekly performance of 1.55%.
Options traders were heavily trading options contracts during the market session establishing a new 3-month volume record for shares of YPF S.A. (ADR) (NYSE:YPF). A total of 8,457 put and 7,349 calls were traded equating to a 1.15 put/call ratio.The ratio skew implies that investors are hedging their positions in anticipation of a stock move. Unusual volume activity confirms that traders are re-balancing their portfolios. YPF SA (ADR)(NYSE:YPF) shares advanced 10.33% in last trading session and ended the day on $31.09. YPF return on equity ratio is recorded as 12.90% and its return on assets is 4.80%. YPF SA (ADR) (NYSE:YPF) yearly performance is 119.41%.
A master-planned community in north Houston two miles from the new Exxon Mobil Corp. (NYSE: XOM) campus is adding five new model homes. Exxon Mobil Corporation (NYSE:XOM) shares moved up 0.43% in last trading session and was closed at $103.11, while trading in range of $ 102.79 – 103.45. Exxon Mobil Corporation (NYSE:XOM) year to date (YTD) performance is 2.61%.
BP plc (ADR) (NYSE:BP)‘s stock had its “neutral” rating restated by equities research analysts at Credit Suisse in a research note issued to investors on Tuesday, Analyst RN reports. BP plc (ADR) (NYSE:BP) weekly performance is 1.96%. On last trading day company shares ended up $51.02. BP plc (ADR) (NYSE:BP) distance from 50-day simple moving average (SMA50) is 4.86%. Analysts mean target price for the company is $51.58.