Does Cenovus Energy Inc Have More Gas After Reaching 52-Week High?

 Does Cenovus Energy Inc Have More Gas After Reaching 52 Week High?

The stock of Cenovus Energy Inc (TSE:CVE) hit a new 52-week high and has $22.26 target or 4.00% above today’s $21.40 share price. The 5 months bullish chart indicates low risk for the $19.53 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $22.26 price target is reached, the company will be worth $781.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.43 million shares traded hands. Cenovus Energy Inc (TSE:CVE) has risen 8.29% since April 27, 2016 and is uptrending. It has outperformed by 2.36% the S&P500.

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. $27 is the highest target while $15.50 is the lowest. The $20.42 average target is -4.58% below today’s ($21.4) stock price. Cenovus Energy Inc has been the topic of 32 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Thursday, July 23 by Credit Suisse. The firm has “Outperform” rating given on Friday, December 11 by RBC Capital Markets. Scotia Capital maintained Cenovus Energy Inc (TSE:CVE) on Friday, July 29 with “Outperform” rating. The firm has “Buy” rating by Goldman Sachs given on Tuesday, January 26. The firm earned “Hold” rating on Friday, August 21 by Societe Generale. The stock has “” rating given by Raymond James on Monday, June 6. The firm earned “Outperform” rating on Tuesday, October 25 by RBC Capital Markets. The stock of Cenovus Energy Inc (TSE:CVE) earned “Hold” rating by TD Securities on Thursday, August 11. The rating was upgraded by Goldman Sachs to “Neutral” on Tuesday, December 1. Nomura upgraded the shares of CVE in a report on Thursday, January 21 to “Neutral” rating.

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 $19.53 billion. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids and natural gas. It currently has negative earnings. The Company’s divisions include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.

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