Analysts Offer Insights on Materials Companies: Encana Corp (NYSE: ECA), Diamondback (NASDAQ: FANG) and PDC Energy (NASDAQ: PDCE)

There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on Encana Corp (ECAResearch Report), Diamondback (FANGResearch Report) and PDC Energy (PDCEResearch Report) with bullish sentiments.

Encana Corp (ECA)

In a report released today, Randy Ollenberger from BMO Capital maintained a Buy rating on Encana Corp, with a price target of $11. The company’s shares opened today at $6.74.

According to TipRanks.com, Ollenberger is a 1-star analyst with an average return of -2.0% and a 45.0% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Birchcliff Energy Ltd, and Imperial Oil Limited.

Encana Corp has an analyst consensus of Moderate Buy, with a price target consensus of $11.67, implying a 73.1% upside from current levels. In a report issued on January 7, RBC Capital also reiterated a Buy rating on the stock with a $11 price target.

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Diamondback (FANG)

BMO Capital analyst Phillip Jungwirth maintained a Buy rating on Diamondback today and set a price target of $130. The company’s shares opened today at $104.10.

According to TipRanks.com, Jungwirth is a 1-star analyst with an average return of -1.3% and a 44.0% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Jagged Peak Energy Inc, and Continental Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $155.12 average price target.

PDC Energy (PDCE)

In a report released today, Dan McSpirit from BMO Capital maintained a Buy rating on PDC Energy, with a price target of $50. The company’s shares opened today at $33.57.

According to TipRanks.com, McSpirit is a 1-star analyst with an average return of -2.9% and a 39.0% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Jagged Peak Energy Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PDC Energy with a $64.17 average price target.

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