On Tuesday, Encana Corporation (USA) (NYSE:ECA)s shares declined -0.54% to $5.51.
Encana released a highly disciplined 2016 capital program which directs 95 percent of its total $1.5 billion to $1.7 billion planned investment to its core four assets. The company will continue to capture sustainable cost efficiencies and maintain operational momentum in its core four assets to grow high margin production, generate quality corporate returns and position the company for continued success in 2017. Highlights comprise:
- 95 percent of 2016 capital to be invested in core four assets, with about 50 percent directed to the Permian
- disciplined capital program about 25 percent lower than 2015
- highly flexible capital program that can be scaled up or down and redirected based on market conditions
- an approximate 12 percent year-over-year enhance in production from core four assets
- a more than 10 percent enhance in operating margins
- a 10 to 15 percent reduction in drilling and completion costs and over 10 percent reduction in corporate costs
Following the launch of our strategy in 2013, we have built a focused, high margin portfolio in North Americas best plays, reduced debt, lowered costs and driven greater efficiency in our operations. As a result, every dollar we invest in 2016 will deliver higher margins and quality corporate returns, said Doug Suttles, Encana President & CEO. We will continue to deliver strong margin growth through 2016 by directing the majority of our capital to drilling and completions activity in our core four assets. This will maintain their scale and position the company to grow long-term shareholder value and cash flow into 2017 and beyond.
Encana Corporation, together with its auxiliaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States.
Nokia Corporation (ADR) (NYSE:NOK)s shares gained 0.14% to $6.96.
NOK has 5.70% institutional ownership while its EPS ratio was 0.29. The company has 3.94 billion shares outstanding while market capitalization of the company was $27.54 billion. Price to book ratio was 2.55. Net profit margin of the company was 10.50% while gross profit margin was 42.40%. Stock volatility for the month was booked as 1.65% while for the week was recorded as 1.36%.
Nokia Corporation, together with its auxiliaries, provides network infrastructure and related services in Finland, the United States, Japan, China, India, the Russian Federation, Germany, Taiwan, Indonesia, Italy, and internationally. The company operates through four segments: Mobile Broadband, Global Services, HERE, and Nokia Technologies.
At the end of Tuesday’s trade, Host Hotels and Resorts Inc (NYSE:HST)s shares surged 0.99% to $15.87.
Host Hotels & Resorts, Inc. (HST) declared that its board of directors authorized a regular quarterly cash dividend of $0.20 per share on the Company’s common stock representing an annual dividend yield of over 5%, based on yesterday’s closing stock price. The dividend is payable on January 15, 2016, to stockholders of record on December 31, 2015.
Host Hotels & Resorts, Inc. is a publicly owned real estate investment trust (REIT). The firm primarily engages in the ownership and operation of hotel properties. It invests in the real estate markets of United States.
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