Cenovus Energy Inc (TSE:CVE) (NYSE:CVE)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as low as $11.13. Cenovus Energy shares last traded at $11.62, with a volume of 2,444,595 shares changing hands.
Several analysts recently weighed in on the stock. CIBC upgraded shares of Cenovus Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$16.00 to C$16.50 in a report on Thursday, July 18th. National Bank Financial raised their price target on shares of Cenovus Energy from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of Cenovus Energy from C$15.00 to C$16.00 in a research report on Thursday, April 25th. GMP Securities decreased their price target on shares of Cenovus Energy from C$15.00 to C$14.50 in a research report on Friday, July 26th. Finally, Cormark raised their price target on shares of Cenovus Energy from C$12.50 to C$14.50 in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$14.57.
The company has a debt-to-equity ratio of 45.66, a quick ratio of 0.53 and a current ratio of 1.02. The firm has a market capitalization of $13.71 billion and a P/E ratio of 47.69. The business’s 50-day moving average is C$11.87.
About Cenovus Energy (TSE:CVE)
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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