Stock On Watch: Could Cenovus Energy Inc (USA) Change Direction After Today’s Big Increase?

Stock On Watch: Could Cenovus Energy Inc (USA) Change Direction After Today's Big Increase?

The stock of Cenovus Energy Inc (USA) (NYSE:CVE) is a huge mover today! About 2.12M shares traded hands or 27.71% up from the average. Cenovus Energy Inc (USA) (NYSE:CVE) has declined 7.05% since April 27, 2016 and is downtrending. It has underperformed by 12.28% the S&P500.
The move comes after 5 months positive chart setup for the $12.73 billion company. It was reported on Nov, 30 by Barchart.com. We have $16.21 PT which if reached, will make NYSE:CVE worth $509.20M more.

Analysts await Cenovus Energy Inc (USA) (NYSE:CVE) to report earnings on February, 9. They expect $-0.04 EPS, up 90.00% or $0.36 from last year’s $-0.4 per share. After $-0.22 actual EPS reported by Cenovus Energy Inc (USA) for the previous quarter, Wall Street now forecasts -81.82% EPS growth.

Cenovus Energy Inc (USA) (NYSE:CVE) Ratings Coverage

Out of 12 analysts covering Cenovus Energy Inc (NYSE:CVE), 6 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 50% are positive. Cenovus Energy Inc has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Bank of America initiated the stock with “Neutral” rating in Friday, August 19 report. On Thursday, April 28 the stock rating was maintained by RBC Capital Markets with “Outperform”. The rating was upgraded by Goldman Sachs to “Buy” on Tuesday, January 26. UBS downgraded Cenovus Energy Inc (USA) (NYSE:CVE) on Tuesday, January 26 to “Neutral” rating. Nomura upgraded the stock to “Neutral” rating in Thursday, January 21 report. On Monday, October 12 the stock rating was downgraded by Barclays Capital to “Underweight”. The rating was upgraded by Morgan Stanley to “Overweight” on Monday, June 13. The rating was maintained by JP Morgan on Tuesday, December 15 with “Neutral”. The firm has “Conviction Buy” rating given on Friday, March 11 by Goldman Sachs. The rating was upgraded by Goldman Sachs to “Neutral” on Tuesday, December 1.

According to Zacks Investment Research, “Cenovus Energy is an integrated oil company headquartered in Calgary, Alberta. The Company’s operations include their growing enhanced oil projects and established natural gas and crude oil production in Alberta and Saskatchewan. The Company has four top-quality enhanced oil projects: Foster Creek, Christina Lake, Pelican Lake and Weyburn. Foster Creek, Christina Lake and Pelican Lake are located in northeast Alberta, and Weyburn is in Saskatchewan. The Company also has ownership interest in two high-quality refineries in Illinois and Texas. Cenovus Energy’s ongoing objective is to advance technologies that reduce the amount of water, steam, natural gas and electricity used in their operations and to decrease surface land disturbance.”

More notable recent Cenovus Energy Inc (USA) (NYSE:CVE) news were published by: Fool.ca which released: “Better Buy: Cenovus Energy Inc. vs. Canadian Natural Resources Limited” on May 30, 2016, also Fool.ca with their article: “Should Investors Buy Cenovus Energy Inc. to Play an Oil Rebound?” published on February 18, 2016, Fool.ca published: “Why Did Moody’s Cut Encana Corporation and Cenovus Energy Inc. to Junk Status?” on February 22, 2016. More interesting news about Cenovus Energy Inc (USA) (NYSE:CVE) were released by: Fool.ca and their article: “Cenovus Energy Inc.: Why Doesn’t This Energy Giant Get More Love?” published on February 04, 2016 as well as Fool.ca‘s news article titled: “What Does Cenovus Energy Inc. Need in 2016?” with publication date: January 07, 2016.

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