Setting Up Technical Traps: Clovis Oncology Inc. (CLVS), Encana Corporation (ECA)

You should consider shares of Clovis Oncology Inc. (NASDAQ:CLVS) and Encana Corporation (NYSE:ECA) if you are looking for a great stocks to invest in. Starting with the CLVS shares, which traded at $11.67 at the close of the recent session, dropping -28.97%. On Tuesday, the company’s shares shed -$4.76 from its value which represented in intraday trading. The stock is now -32.19% lower in year-to-date (YTD) trading. CLVS’s intraday high was $15.55 while its lowest price touched $11.43. The stock’s 52-week high price is $32.05, which means the current price is at -63.59%. In terms of trading activity, the daily trading volume rose to 25996737 against 200-day average trading volume of 4,111,479 shares.

What are analyst forecasts for Clovis Oncology Inc. (NASDAQ:CLVS)?

At a consensus rating of 3.50, CLVS is trending as a streaking Moderate Buy, as it has been the case a month ago when 6 analysts called it a Moderate Buy. Two months ago, 8 analysts recommended, on average, that CLVS stock is a Moderate Buy. The Healthcare company’s shares’ overall bearish trend saw it close higher on Tuesday compared to its opening price of $14.65 on the day.

Forecasts for Clovis Oncology Inc. (NASDAQ:CLVS) give the stock a fair value for the growth of -45.88% from its last price. The 12-month price forecast for the stock by analysts puts the stock’s mean price target at $8.00, which means the price per share could fall by nearly -$3.67. The price range target is between a low of $3.00 and a high of $36.00. The stock would need to gain by about $67.58 to hit the estimated high or 0.25% from its 12-month low.

The consensus among 9 analysts is that it is a good time for one to Hold in the Clovis Oncology Inc. 2 analysts rate CLVS as a Buy, with 1 of 9 analysts rate it as a Sell. 0 have valued the stock as Overweight and 6 have recommended that investors Hold.

Clovis Oncology Inc. (NASDAQ:CLVS) Upgrades and Downgrades

In terms of rating changes, Evercore ISI on November 19, 2019, Downgrade Clovis Oncology Inc. (CLVS) at In-line. They believe the stock could reach $8 in the near term. Analysts at SVB Leerink have assigned a Mkt Perform rating for the stock in their research note on September 24, 2019 with an estimated price target of $10. Moreover, BofA/Merrill analysts issued a rating of Neutral for the stock on August 13, 2019. On August 02, 2019, the stock earned a Neutral rating due to an analyst call from Guggenheim, while analysts from Goldman on May 29, 2019 suggested that the stock is Sell.

Encana Corporation (NYSE:ECA) adds -$0.03 on Tuesday

The ECA stock has tanked -33.39% year-to-date and is currently trading at $3.85, which is -50.00% below its 52-week high. The company shares lost -0.77% on the day and have risen nearly 1.05% off a low hit. At current levels, Encana Corporation has a valuation of about $7.54B. As of 12/03/19, this stock has fallen -6.55% during the week and closed at $3.88 in the previous session. However, recent Encana Corporation stock performance shows that ECA shares are -7.45% down over the last month, and -13.48% down for the last three months.

Earnings per share (EPS) estimates for the current quarter are $0.17, with the trailing 12-month share earnings at $1.24. The ratio is expected to be down by -26.70% for the current year 2019 and -6.30% for next year. Over the next 5-year period, earnings per share will be 11.96%. But will the ECA stock surprise in the current quarter results, where the $0.15 actual EPS reported on 9/29/2019 surprised by 7.10% or was higher by $0.01 from the estimated $0.14.

Sales Growth to climb 5.20% for the year

How well will Encana Corporation perform as a business over the current quarter, year and next 5-year period? Compared to the year-ago quarter, analysts forecast the company to bring in between $1.75B and $2B in current quarter sales. The consensus estimated for the current quarter is $1.88B from sales. Forecasts for this fiscal year are between $5.84B and $7.09B and the consensus estimate for sales is at $6.81B. ECA has its next quarter sales estimates at between $1.71B and $1.95B, with the quarter-over-quarter growth estimates at 50.10% and the annual growth forecast for the year at 5.20%.

Who owns shares in Encana Corporation (ECA)?

Let’s briefly focus on the share ownership of the Encana Corporation (NYSE:ECA) stock, where we find that 56.98% of shares are held by institutions. Causeway Capital Management LLC tops the list of institutional owners as it is holding 126.23 million shares or 9.72% of shares outstanding. Wellington Management Company, LLP and Dodge & Cox Inc held 117.03 million and 98.36 million representing 9.01% and 7.57% respectively at the close of the last trading session. As of Sep 29, 2019, Letko, Brosseau & Associates Inc. accounted for 52.46 million shares at over 241.31 million. This represented 4.04% of shares outstanding. Davis Selected Advisers, LP held 48.96 million shares at over 225.2 million representing 3.77% of shares outstanding.

ECA Insider Activity

On 3/08/2019, President & Chief Executive Officer by the name Suttles Douglas James bought 1.66 million shares worth $11.9 million at the price of $7.16 per share. Filings also show that Suttles Douglas James sold a total of 1.66 million shares on 3/08/2019 valued at $11.9 million. Since the last insider activity, the company’s share price has dropped -41.74%.