Cenovus Energy Inc (TSE:CVE) (NYSE:CVE)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.69 and traded as high as $5.85. Cenovus Energy shares last traded at $5.74, with a volume of 5,361,098 shares traded.
CVE has been the subject of several research analyst reports. Morgan Stanley raised their price target on Cenovus Energy from C$5.00 to C$7.00 in a research report on Wednesday, July 8th. National Bank Financial raised their target price on Cenovus Energy from C$6.50 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, June 24th. Tudor Pickering & Holt set a C$7.00 price target on shares of Cenovus Energy and gave the stock a “hold” rating in a research note on Thursday, July 23rd. Tudor Pickering reissued a “hold” rating and set a C$7.00 target price on shares of Cenovus Energy in a research note on Monday, June 8th. Finally, Citigroup boosted their target price on Cenovus Energy from C$7.00 to C$9.00 in a research note on Wednesday, June 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Cenovus Energy presently has an average rating of “Hold” and an average target price of C$7.16.
The company has a 50-day moving average of C$6.24 and a 200-day moving average of C$5.69. The company has a debt-to-equity ratio of 59.19, a quick ratio of 0.72 and a current ratio of 1.23. The stock has a market cap of $7.05 billion and a price-to-earnings ratio of -4.07.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Thursday, July 23rd. The company reported C($0.34) earnings per share for the quarter, beating the consensus estimate of C($0.59) by C$0.25. The company had revenue of C$2.17 billion during the quarter, compared to analysts’ expectations of C$2.66 billion. As a group, equities research analysts forecast that Cenovus Energy Inc will post -0.21 EPS for the current year.
In related news, Director Keith A.J. Macphail bought 60,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of C$6.48 per share, for a total transaction of C$388,800.00. Following the purchase, the director now owns 366,000 shares of the company’s stock, valued at approximately C$2,371,680.
Cenovus Energy Company Profile (TSE:CVE)
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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