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Cenovus Energy Inc (CVE) Has Stock More Room to Run

01 Novembre 2017

Beutel Goodman & Co Ltd. now owns 42,418,807 shares of the company's stock valued at $582,692,000 after buying an additional 4,305,355 shares during the last quarter. Cenovus Energy has a one year low of $6.76 and a one year high of $16.82. TD Securities cut Cenovus Energy from a "buy" rating to a "hold" rating and set a $21.00 price target for the a report on Wednesday, August 10th. Cenovus Energy Inc. (NYSE:CVE) has a 20-Day average volume of 3.52 Million. Cenovus Energy Inc (NYSE:CVE) has a market cap of $11.53 Billion and the number of outstanding shares have been calculated 1.19 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 Inc (NYSE:CVE) as of recent trade, has shown weekly downbeat performance of -0.31% which was maintained at -3.59% in 1-month period. Nomura reaffirmed a "hold" rating on shares of Cenovus Energy in a report on Monday, September 26th.

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 firm's 50-day moving average price is $9.67 and its 200-day moving average price is $8.73. Finally, National Bank Financial started coverage on Cenovus Energy in a report on Tuesday, June 27th.

The Average Earnings Estimate for the Current Fiscal quarter is $0.14 per share, according to consensus of 8 analysts. Trading volume for Cenovus Energy Inc. was 4.93 Million in its previous trading session. 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.

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Following the completion of the sale, the insider now owns 769,504 shares in the company, valued at $37,990,412.48. However, -0.84% over the last one month, 9.53% for the last quarter and year to date performance stands at 11.15%.

The TTM operating margin for the company stands at 3.4%.

ILLEGAL ACTIVITY WARNING: "Cenovus Energy Inc (NYSE:CVE) Stock Rating Upgraded by Zacks Investment Research" was first posted by Week Herald and is the sole property of of Week Herald. Past 5 years growth of the company observed at 2.22%, and for the next five years the analysts that follow the company are expecting its growth at 53.65%. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and global copyright legislation.

These firms have modified their investment in CVE.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in shares of Cenovus Energy during the second quarter valued at $289,644,000. FMR LLC now owns 54,026,588 shares of the oil and gas company's stock worth $398,284,000 after purchasing an additional 10,341,993 shares during the last quarter. Intact Investment Management Inc. claims 273,850 shares with a value of $3,412,000. Finally, Burgundy Asset Management Ltd. increased its position in Cenovus Energy by 49.0% during 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. This gauge is crucial in determining whether investors are moved toward the direction of buying more of the stock, or else doing the contradictory side and selling more of the stock.