Triple whammy....If your're an investor in Encana/Ovintiv at this time.......you need to be very patient right now. I do not expect anything substantial from the company or the sector until later this year. With the 2020 US elections right around the corner, most of the big investors, speculators and big money will be on the sidelines until the market as an idea of WHO will come on top. So until then, it "would have been" a fairly quite, non-eventful trip......until, unfortunately......this hit --------> Corona Virus.
With the company's Canadian assets under siege from everyone from evironmentalists, climate change advocates to politicians and of course not excluding the very negative pricing because of the those above entities on top of lacking infrastructure. This has lead to Canadian oil & gas prices to crater and forcing many e&p's into a difficult situation. Taking this into accont, the company will always trade at a significant discount to it's peers until it can remedy or remove the Canadian liabilities.
When it rains it pours. With those two factors already creating havoc with the whole O&G sector, the last thing companies like Encana needed was another catastrophe raining down on them. Unfortunately, unexpected and unpredictable events do indeed happen every so often and this time it came in the form of a global viral pandemic. The corona virus pandemonium has created a global panic which is affecting world wide business, especially travel and therefore oil consumption which is leading to tremondous downward pressures on oil pricing. Unfortunate, but it has to run its course before any recovery or confindence returns.
With this triple threat......i fully expect for the O&G sector to be under assault for the foreeable future with upside substantially limited and companies like Encana to continue to be in survival mode until those threats ARE REMOVED.
Good luck to all