Cenovus Energy Inc (CVE) : Traders are bullish on Cenovus Energy Inc (CVE) as it has outperformed the S&P 500 by a wide margin of 8.62% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.71%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.68% in the last 1 week, and is up 9.04% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Cenovus Energy Inc. is up 5.68% in the last 3-month period. Year-to-Date the stock performance stands at 22.35%. The stock has recorded a 20-day Moving Average of 7% and the 50-Day Moving Average is 8.44%.
Cenovus Energy Inc (NYSE:CVE): The stock opened at $15.51 on Friday but the bulls could not build on the opening and the stock topped out at $15.51 for the day. The stock traded down to $15.23 during the day, due to lack of any buying support eventually closed down at $15.44 with a loss of -1.22% for the day. The stock had closed at $15.63 on the previous day. The total traded volume was 892,976 shares.
Also, Bank of America initiates coverage on Cenovus Energy Inc (NYSE:CVE). The current rating of the shares is Neutral, according to the research report released by the firm. The rating by the firm was issued on August 19, 2016.
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 Cenovuss 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.