Cenovus Energy Inc (CVE) Receives Price Target

Cenovus Energy Inc (CVE) : The highest short term price target forecast on Cenovus Energy Inc (CVE) is $23 and the lowest target price is $14. A total of 7 equity analysts are currently covering the company. The average price of all the analysts is $18.13 with a standard deviation of $3.4.

Cenovus Energy Inc (CVE) : 2 brokerage houses believe that Cenovus Energy Inc (CVE) is a Strong Buy at current levels. 3 Analyst considers the fundamentals to be worthy of a Buy recommendation. 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Cenovus Energy Inc (CVE). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 7 Wall Street Analysts endorse the stock as a Buy with a rating of 2.


Also, Bank of America initiates coverage on Cenovus Energy Inc (NYSE:CVE). The rating major has initiated the coverage with neutral rating on the shares. The rating by the firm was issued on August 19, 2016.

Cenovus Energy Inc (NYSE:CVE): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.37 and $14.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.61, notching a gain of 1.11% for the day. The total traded volume was 2,604,630 . The stock had closed at $14.45 on the previous day.

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.

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