Bank of America Initiates Coverage on Cenovus Energy Inc (USA) to Neutral

Bank of America Initiates Coverage on Cenovus Energy Inc (USA)(NYSE:CVE). The shares have been rated Neutral. The rating by Bank of America was issued on Aug 19, 2016.

In a different note, On Jul 29, 2016, JP Morgan said it Maintains its rating on Cenovus Energy Inc (USA). In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 13, 2016, Morgan Stanley said it Upgrades its rating on Cenovus Energy Inc (USA). The shares have been rated ‘Overweight’ by the firm.

Cenovus Energy Inc (USA) (CVE) shares turned negative on Mondays trading session with the shares closing down -0.01 points or -0.07% at a volume of 7,30,927. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.92. The peak price level was also seen at $14.92 while the days lowest was $14.65. Finally the shares closed at $14.84. The 52-week high of the shares is $17.23 while the 52-week low is $9.1. According to the latest information available, the market cap of the company is $12,366 M.

Cenovus Energy Inc (USA)(CVE) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Earnings per share were $-0.40.

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.

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