AltaCorp Capital Upgrades Cenovus Energy (CVE) to “Outperform”
Cenovus Energy (TSE:CVE) (NYSE:CVE) was upgraded by research analysts at AltaCorp Capital from a “sector perform” rating to an “outperform” rating in a research note issued on Friday, February 16th.
Several other analysts have also issued reports on CVE. TD Securities reduced their price objective on shares of Cenovus Energy from C$14.00 to C$12.00 and set a “hold” rating on the stock in a report on Friday, February 16th. National Bank Financial cut their price target on shares of Cenovus Energy from C$14.00 to C$13.50 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. BMO Capital Markets boosted their price target on shares of Cenovus Energy from C$12.00 to C$14.00 in a research note on Friday, November 3rd. JPMorgan Chase & Co. boosted their price target on shares of Cenovus Energy from C$12.50 to C$14.00 in a research note on Friday, November 3rd. Finally, Eight Capital set a C$15.00 price target on shares of Cenovus Energy and gave the stock a “neutral” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of C$15.23.
Shares of Cenovus Energy (TSE CVE) traded down C$0.03 on Friday, reaching C$10.45. 2,460,968 shares of the company traded hands, compared to its average volume of 4,453,123. The stock has a market cap of $12,900.00, a price-to-earnings ratio of 5.00 and a beta of 0.47. Cenovus Energy has a 12-month low of C$8.89 and a 12-month high of C$17.81.
Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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