Economy

Cenovus Energy Inc (CVE) Receives Average Recommendation of "Buy" from Brokerages

The company's stock had a trading volume of 1,989,587 shares. With short interest at 34,393,424 and short average daily volume at 2,956,757, days to cover is 12.0 and the short interest percentage is 0.03% as of August 31.

Cenovus Energy Inc. develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada.

Beta is also an important valuation ratio for analyzing the stock of the company, CVE has its industry and Sector's beta remains at 0.85 and 0.77 respectively. The stock exchanged hands with 7,493,850 numbers of shares compared to its average daily volume of 4.93M shares. The value of the total investment in Cenovus Energy Inc went from $1,571,000 to $615,000 a change of 60.9% quarter over quarter. It has underperformed by 50.71% the S&P500. As of the end of the quarter Cubist Systematic Strategies, LLC had disposed of a total of 55,573 shares trimming its position 40.0%. Sc Xii Management Llc who had been investing in Mobileiron Inc for a number of months, seems to be less bullish one the $329.47 million market cap company.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -3.71%, and has a solid year to date (YTD) performance of -31.73% which means that the stock is constantly adding to its value from the previous fiscal year end price. About 341,505 shares traded. It has outperformed by 62.83% the S&P500.

Cenovus Energy Inc (CVE) reported sales (ttm) of 11.89 Billion, whereas, 2 number of analysts estimated the mean sale of 4921.03 million. CVE's profit would be $61.46M giving it 51.70 P/E if the $0.05 EPS is correct. After $0.27 actual earnings per share reported by Cenovus Energy Inc (USA) for the previous quarter, Wall Street now forecasts -81.48% negative EPS growth.

Cenovus Energy Inc. (NYSE:CVE) shares have traded 13.02% for the week and are -31.73% for the year. Therefore 38% are positive. Cenovus Energy Inc had 57 analyst reports since July 31, 2015 according to SRatingsIntel.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, July 27th. On Monday, October 12 the stock rating was downgraded by Barclays Capital to "Underweight". Canaccord Genuity reiterated a "buy" rating and set a $14.00 target price on shares of Cenovus Energy in a report on Tuesday, September 5th. 5 analysts gave its stock an Outperform rating. Zacks Investment Research upgraded Cenovus Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, July 18th. The rating was upgraded by Macquarie Research on Thursday, March 30 to "Neutral". The rating was downgraded by Goldman Sachs on Monday, January 23 to "Sell".

Cardinal Capital Management Inc, which manages about $1.84 billion and $988.06 million US Long portfolio, upped its stake in Honeywell International Inc. That puts total institutional holdings at 702,945,899 shares, according to SEC filings. Gateway Investment Advisers LLC boosted its position in shares of Cenovus Energy by 0.5% during the second quarter.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th.

Investors and Traders continue to monitor technical levels of shares of Cenovus Energy Inc.

Analysts await Mobileiron Inc (NASDAQ:MOBL) to report earnings on October, 26. Cenovus Energy's ongoing objective is to advance technologies that reduce the amount of water, steam, natural gas and electricity used in their operations and to decrease surface land disturbance. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Therefore 20% are positive. BASF had 159 analyst reports since July 21, 2015 according to SRatingsIntel. The company moved in the past week with shift of 13.02%. The firm has "Buy" rating by Sterne Agee CRT given on Tuesday, April 5. The rating was maintained by RBC Capital Markets on Friday, April 7 with "Outperform". Morgan Stanley maintained the stock with "Equal-Weight" rating in Monday, September 19 report. The rating was maintained by Goldman Sachs with "Neutral" on Thursday, June 22. The firm has "Sell" rating by Shore Capital given on Tuesday, February 21. The rating was maintained by TD Securities on Friday, October 28 with "Hold".



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