Economy

The Cenovus Energy Inc. (CVE) Position Increased by Scotia Capital Inc

A total of 4.93 Million shares exchanged hands during the intra-day trade compared with its average trading volume of 4.48 Million shares, while its relative volume stands at 1.1. Cenovus Energy has a one year low of $6.76 and a one year high of $16.82.

Canaccord Genuity restated their buy rating on shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in a report published on Thursday, October 19th. Scotia Capital Inc. owned approximately 0.22% of Cenovus Energy worth $25,217,000 as of its most recent filing with the SEC. Cenovus Energy Inc. The stock's market cap is $11.72 billion. 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.

Cenovus Energy (NYSE CVE) traded up 0.52% during midday trading on Thursday, hitting $9.71.

Several large investors have recently added to or reduced their stakes in the company. Finally, Credit Suisse Group AG reaffirmed a "buy" rating and issued a $22.00 price target on shares of Cenovus Energy in a report on Friday, July 29th.

Shares of Cenovus Energy Inc (NYSE:CVE) now have an Average Brokerage Recommendation of 2.73, number of Recs in ABR is 11 while industry rank of the company by ABR is ut of 265. The 50 day moving average was down by -0.07% and the 200 day average went up by +10.71%. The company had a trading volume of 1,011,832 shares. Finally, National Bank Financial started coverage on Cenovus Energy in a report on Tuesday, June 27th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. As of the latest earnings report the EPS was $2.45 and is expected to be $0.50 for the current year with 1,228,790,000 shares presently outstanding. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%.

CVE has been the subject of several other research reports.

Analysts believe that the company has the potential to earn average revenue of $3.79 Billion for the current quarter. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and global copyright legislation. The correct version of this piece can be accessed at https://weekherald.com/2017/10/30/cenovus-energy-inc-cve-stock-rating-upgraded-by-zacks-investment-research.html.

Other hedge funds have also made changes to their positions in the company. As of the end of the quarter Aperio Group, LLC had bought a total of 69,551 shares growing its stake by 96.8%. Intact Investment Management Inc. claims 273,850 shares with a value of $3,412,000. The firm owned 1,825,231 shares of the company's stock after buying an additional 112,920 shares during the period.

Intact Investment Management Inc. augmented its stake by buying 121,900 shares an increase of 80.2% from 06/30/2017 to 09/30/2017. Beutel Goodman & Co Ltd. increased its stake in shares of Cenovus Energy by 11.3% in the second quarter. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company's stock valued at $199,920,000 after acquiring an additional 7,354,590 shares during the last quarter.

Investors are feeling more bullish on the company if you watch the fall in short interest.



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