Cenovus Energy Inc (CVE) Shares are Up 1.94%

Cenovus Energy Inc (CVE) : Traders are bullish on Cenovus Energy Inc (CVE) as it has outperformed the S&P 500 by a wide margin of 2.96% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.88%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.94% in the last 1 week, and is up 4.02% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 4.02% and the 50-Day Moving Average is 3.33%. Cenovus Energy Inc (NYSE:CVE): On Fridays trading session , Opening price of the stock was $14.85 with an intraday high of $14.98. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $14.68. However, the stock managed to close at $14.75, a loss of 0.07% for the day. On the previous day, the stock had closed at $14.76. The total traded volume of the day was 1,281,766 shares.


Institutional Investors own 65.99% of Cenovus Energy Inc shares. Also, In a research note released to the investors, JP Morgan maintains its rating on Cenovus Energy Inc (NYSE:CVE).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, JP Morgan raises the new price target from $19 per share to $20 per share. The rating by the firm was issued on July 29, 2016.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *