Published: Fri, August 11, 2017
Economy | By Annette Adams

Cenovus Energy Inc (NYSE:CVE) Experiences Heavy Trading Volume


Cenovus Energy Inc (CVE) traded down 2.68% on Thursday, hitting $7.98.

Having a peek at growth estimates of the company, Cenovus Energy Inc (NYSE:CVE) has current quarter growth estimates of 136.4% however it has -71% estimations over growth for the next quarter.

Montgomery Investment Management Inc. lowered its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 14.8% during the second quarter, Holdings Channel reports. Airain ltd now owns 571,084 shares of the oil and gas company's stock valued at $4,209,000 after buying an additional 551,269 shares during the period. Beutel Goodman & Co Ltd. increased its position in shares of Cenovus Energy by 5.0% in the first quarter. The company has an average rating of "Hold" and a consensus price target of $17.34. Intact Investment Management Inc. now owns 151,950 shares of the oil and gas company's stock valued at $1,446,000 after buying an additional 600 shares during the period. The firm now has a "market perform" rating on the stock. Capital Fund Management S.A. now owns 933,736 shares of the oil and gas company's stock valued at $6,882,000 after buying an additional 415,456 shares during the period. Cenovus Energy Inc had 24 analyst reports since July 21, 2015 according to SRatingsIntel. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Cenovus Energy by 7.2% in the second quarter. Zacks Investment Research upgraded shares of Cenovus Energy from a "hold" rating to a "buy" rating and set a $8.25 price objective for the company in a research note on Tuesday, July 25th. The stock's 50-day moving average price is $7.53 and its 200-day moving average price is $10.47. (CVE) stock price comparison to its moving averages, shares of company spotted the move of 4.99% isolated from the 50-day moving average and derived 3.99% away from 20-day moving average in the most recent session. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.24. Letko, Brosseau & Associates Inc added to its investment by buying 7,354,590 shares an increase of 37.1% in the quarter. 5,004,632 shares of the stock traded hands. Cenovus Energy Inc has $27 highest and $1100 lowest target. Finally, Aviva PLC boosted its stake in Cenovus Energy by 23.4% in the second quarter.

ILLEGAL ACTIVITY NOTICE: This report was first published by Community Financial News and is owned by of Community Financial News. The return on equity ratio or ROE stands at -3.9 percent while most common profitability ratio return on investment (ROI) was -2.6 percent. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.40 billion. This is an increase from Cenovus Energy's previous quarterly dividend of $0.04. If you are accessing this article on another publication, it was copied illegally and reposted in violation of United States and worldwide copyright & trademark laws. On average, analysts forecast that Cenovus Energy Inc will post $0.37 EPS for the current year. While in the same Quarter Previous year, the Actual EPS was $-0.22. The correct version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/09/cenovus-energy-inc-cve-price-target-cut-to-c11-00-updated-updated.html. The company's institutional ownership is monitored at 89.8 percent. Goldman Sachs upgraded the shares of CVE in report on Tuesday, January 26 to "Buy" rating.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. The dividend was $0.038 per share for the quarter which comes to $0.15 on an annualized basis. ValuEngine downgraded shares of Cenovus Energy from a "hold" rating to a "sell" rating in a research note on Friday, June 2nd. Out of the analyst recommendations 2 rate Cenovus Energy Inc (NYSE:CVE) stock a Buy, 13 rate the stock Outperform, 9 rate Hold, 2 rate Underperform and 0 recommend a Sell. The ex-dividend date of this dividend is Thursday, September 14th. The stock declined 1.02% or $0.09 reaching $8.23 per share.

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