Cenovus Energy Inc (USA) (CVE) Releases Earnings Results, Beats Expectations By $0.09 EPS

Cenovus Energy Inc (USA) (CVE) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.14. Analysts expectations of $2617.51 million. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Cenovus Energy Inc (USA). Cenovus Energy Inc (USA) was Upgraded by Morgan Stanley to ” Overweight” on Jun 13, 2016.

Cenovus Energy Inc (USA) opened for trading at $13.67 and hit $14.27 on the upside on Thursday, eventually ending the session at $14.14, with a gain of 6.72% or 0.89 points. The heightened volatility saw the trading volume jump to 32,39,268 shares. Company has a market cap of $11,783 M.

Cenovus Energy Inc. is a Canada-based integrated oil company. The Company is engaged in the development production and marketing of crude oil natural gas liquids (NGLs) and natural gas in Canada with refining operations in the United States. The Company operates in four segments: Oil Sands segment engaged in the development and production of Cenovus’s bitumen assets at Foster Creek Christina Lake and Narrows Lake as well as projects in the early-stages of development such as Grand Rapids and Telephone Lake and Athabasca natural gas assets; Conventional segment engaged in the development and production of conventional crude oil natural gas liquids (NGLs) and natural gas in Alberta and Saskatchewan including the heavy oil assets at Pelican Lake; Refining and Marketing segment engaged in the transporting selling and refining crude oil into petroleum and chemical products.

Cenovus Energy Inc (USA)

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