Cenovus Energy Inc (CVE) has risen sharply, recording gains of 3.06% in the past 4 weeks. However, the stock has corrected -0.14% in the past 1 week, providing a good buying opportunity on dips. Cenovus Energy Inc (CVE) : During the past 4 weeks, traders have been relatively bearish on Cenovus Energy Inc (CVE), hence the stock is down -3.46% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.75% relative to the S&P 500.
Cenovus Energy Inc (NYSE:CVE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.19 and $13.93 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.16, notching a gain of 0.14% for the day. The total traded volume was 2,145,911 . The stock had closed at $14.14 on the previous day.
The stock has recorded a 20-day Moving Average of 1.67% and the 50-Day Moving Average is 2.53%. Cenovus Energy Inc. has dropped 6.72% during the last 3-month period . Year-to-Date the stock performance stands at 12.2%.
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.