Brokerage Firm Rating Update on Cenovus Energy Inc (CVE)

Cenovus Energy Inc (CVE) : The consensus on Cenovus Energy Inc (CVE) based on 7 analyst recommendation on the company stock is 2, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 3 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Cenovus Energy Inc (CVE) : Average target price received by Cenovus Energy Inc (CVE) is $18.13 with an expected standard deviation of $3.4. The most aggressive target on the stock is $23, whereas the most downbeat target is $14. 7 financial analysts are currently covering the stock.


Company shares have received an average consensus rating of Hold for the current week Also, Bank of America initiates coverage on Cenovus Energy Inc (NYSE:CVE). Bank of America has a Neutral rating on the shares. The rating by the firm was issued on August 19, 2016.

Cenovus Energy Inc (NYSE:CVE): stock was range-bound between the intraday low of $14.54 and the intraday high of $14.86 after having opened at $14.81 on Wednesdays session. The stock finally closed in the red at $14.81, a loss of -1.35%. The stock remained in the red for the whole trading day. The total traded volume was 1,482,793 shares. The stock failed to cross $14.86 in Wednesdays trading. The stocks closing price on Thursday was $14.78.

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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