Cenovus Energy Downgraded to “Outperform” at Scotiabank (CVE)
Cenovus Energy (NYSE:CVE) was downgraded by Scotiabank from a “focus list” rating to an “outperform” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.
Shares of Cenovus Energy (NYSE:CVE) traded up 0.19% on Monday, hitting $26.20. 260,977 shares of the company’s stock traded hands. Cenovus Energy has a 52-week low of $25.74 and a 52-week high of $33.69. The stock has a 50-day moving average of $27.40 and a 200-day moving average of $28.96. The company has a market cap of $19.803 billion and a price-to-earnings ratio of 32.48.
A number of other analysts have also recently weighed in on CVE. Analysts at Zacks downgraded shares of Cenovus Energy from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, January 23rd. They now have a $25.40 price target on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Cenovus Energy in a research note to investors on Friday, December 13th. Finally, analysts at Raymond James initiated coverage on shares of Cenovus Energy in a research note to investors on Tuesday, December 3rd. They set an “outperform” rating and a $38.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Cenovus Energy has an average rating of “Buy” and an average target price of $36.69.
Cenovus Energy Inc (NYSE:CVE) is an integrated oil company.
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