Is Cenovus Energy Inc’s Fuel Running Low? The Stock Just Declined Again


 Is Cenovus Energy Inc's Fuel Running Low? The Stock Just Declined Again

The stock of Cenovus Energy Inc (TSE:CVE) is a huge mover today! About 378,394 shares traded hands. Cenovus Energy Inc (TSE:CVE) has risen 23.24% since March 10, 2016 and is uptrending. It has outperformed by 17.63% the S&P500.
The move comes after 8 months negative chart setup for the $16.93B company. It was reported on Oct, 17 by We have $19.29 PT which if reached, will make TSE:CVE worth $846.50 million less.

Cenovus Energy Inc (TSE:CVE) Ratings Coverage

Out of 9 analysts covering Cenovus Energy Inc (TSE:CVE), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. $27 is the highest target while $15.50 is the lowest. The $19.50 average target is -3.94% below today’s ($20.3) stock price. Cenovus Energy Inc has been the topic of 26 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was maintained by Raymond James with “” on Monday, June 6. The stock has “Buy” rating given by TD Securities on Friday, July 29. The company was initiated on Friday, August 19 by Bank of America. The firm has “Outperform” rating given on Friday, February 12 by National Bank Canada. On Thursday, July 23 the stock rating was upgraded by Credit Suisse to “Outperform”. Goldman Sachs upgraded Cenovus Energy Inc (TSE:CVE) on Tuesday, December 1 to “Neutral” rating. Scotia Capital maintained the shares of CVE in a report on Friday, July 29 with “Outperform” rating. The stock has “Underweight” rating given by Barclays Capital on Monday, October 12. On Monday, June 20 the stock rating was maintained by RBC Capital Markets with “Outperform”. Societe Generale maintained it with “Hold” rating and $18 target price in Friday, August 21 report.

Cenovus Energy Inc is a Canada-based integrated oil company. The company has a market cap of $16.93 billion. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids and natural gas. It has a 21.82 P/E ratio. The Company’s divisions include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.

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