Cenovus Energy Inc (USA) (NYSE:CVE) has been downgraded to Buy in a statement by Goldman Sachs Group Inc. earlier today.
- Updated: November 28, 2016
Goldman Sachs Group Inc. has downgraded Cenovus Energy Inc (USA) (NYSE:CVE) to Buy in a statement released on Monday November 28, 2016.
Boasting a price of $14.87, Cenovus Energy Inc (USA) (NYSE:CVE) traded -2.09% lower on the day. With the last stock price close up -0.40% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.03% over the date range. Cenovus Energy Inc (USA) has recorded a 50-day average of $14.85 and a two hundred day average of $14.55. Volume of trade was up over the average, with 1,860,609 shares of CVE changing hands over the typical 1,734,020
With a total market value of $0, Cenovus Energy Inc (USA) has with a one year low of $9.10 and a one year high of $16.56 .
A total of 11 equity analysts have released a ratings update on CVE. zero equity analysts rating the company a strong buy, seven firms rating the stock a buy, 7 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell with a consensus target price of $16.11.
About Cenovus Energy Inc (USA) (NYSE:CVE)
Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta. Its bitumen assets include Foster Creek, Christina Lake and Narrows Lake, and projects in early stages of development, such as Grand Rapids and Telephone Lake. The Conventional segment includes development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including heavy oil assets at Pelican Lake and the carbon dioxide enhanced oil recovery project at Weyburn. The Refining and Marketing segment includes transporting, selling and refining crude oil into petroleum and chemical products.
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