Cenovus Energy Inc’s Trend Down, Especially After Today’s Weak Session

 Cenovus Energy Inc's Trend Down, Especially After Today's Weak Session

The stock of Cenovus Energy Inc (TSE:CVE) is a huge mover today! About 778,660 shares traded hands. Cenovus Energy Inc (TSE:CVE) has risen 18.59% since March 24, 2016 and is uptrending. It has outperformed by 15.12% the S&P500.
The move comes after 5 months negative chart setup for the $15.75 billion company. It was reported on Oct, 31 by Barchart.com. We have $17.99 PT which if reached, will make TSE:CVE worth $1.26B less.

Cenovus Energy Inc (TSE:CVE) Ratings Coverage

Out of 8 analysts covering Cenovus Energy Inc (TSE:CVE), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. Cenovus Energy Inc has been the topic of 32 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Bank of America initiated the stock with “Neutral” rating in Friday, August 19 report. Raymond James maintained the shares of CVE in a report on Monday, June 6 with “” rating. Goldman Sachs upgraded Cenovus Energy Inc (TSE:CVE) on Tuesday, December 1 to “Neutral” rating. As per Monday, June 20, the company rating was maintained by RBC Capital Markets. The stock of Cenovus Energy Inc (TSE:CVE) earned “Outperform” rating by National Bank Canada on Friday, February 12. Barclays Capital downgraded the shares of CVE in a report on Monday, October 12 to “Underweight” rating. TD Securities maintained the shares of CVE in a report on Friday, July 29 with “Buy” rating. Societe Generale maintained it with “Hold” rating and $18 target price in Friday, August 21 report. As per Thursday, January 21, the company rating was upgraded by Nomura. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, October 25 report.

Another recent and important Cenovus Energy Inc (TSE:CVE) news was published by Wsj.com which published an article titled: “Cenovus Energy Posts Quarterly Loss” on October 27, 2016.

Cenovus Energy Inc is a Canada-based integrated oil company. The company has a market cap of $15.75 billion. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids and natural gas. It has a 21.02 P/E ratio. The Company’s divisions include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.

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