Exploring EnCana
The near-term pullback has lowered share prices, but Cramer has to decide if the company still holds promise.
EnCana (ECA) has pulled back 5 points from where I last sold it on Wednesday, to $67.41. Energy stocks, especially in the exploration and production space, were due for a near-term pullback.
I'm ready to buy back 200 shares of EnCana after you read this. I've sold a total of 2,000 EnCana shares over the past month, for gains ranging from 30% to 50%. That said, the company can post double-digit annual growth in its natural gas business through the end of the decade, and I believe EnCana eventually can trade up toward $80.
Regards,
James J. Cramer
DISCLOSURE: At the time of publication, Cramer was long EnCana.
Send email to james.cramer@thestreet.com.