Cenovus Energy Inc (NYSE:CVE) Has Been Upgraded Today by Goldman Sachs to a “Neutral”


Cenovus Energy Inc (NYSE:CVE) Stock Upgrade

In a comprehensive report published on Tuesday morning, Goldman Sachs boosted shares of Cenovus Energy Inc (NYSE:CVE) to a solid “Neutral” rating from their previous “Sell” rating.

From a total of 13 analysts covering Cenovus Energy Inc (NYSE:CVE) stock, 7 rate it a ”Buy”, 1 a “Sell”, and 6 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $20.97 while the lowest target price is $14.23. The mean of all analyst targets is $17.41 with a 56.65% above today’s ($14.81) stock price. Cenovus Energy Inc was the topic of 6 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Barclays Capital downgraded shares on October 12 to “Underweight” rating.

The stock closed the day at $14.81 during the previous session. It is down 22.96% since April 28, 2015 and is downtrending. It has underperformed by 21.33% the S&P500.

 Cenovus Energy Inc (NYSE:CVE) Has Been Upgraded Today by Goldman Sachs to a

Cenovus Energy Inc. is a Canadian integrated oil company. The company has a market cap of $12.13 billion. The Firm is engaged in the business of developing, producing and marketing crude oil, natural gas liquids and natural gas in Canada with refining activities in the United States. It has 23.79 P/E ratio.

According to Zacks Investment Research, “Cenovus Energy is an integrated oil company headquartered in Calgary, Alberta. The Company’s operations include their growing enhanced oil projects and established natural gas and crude oil production in Alberta and Saskatchewan. The Company has four top-quality enhanced oil projects: Foster Creek, Christina Lake, Pelican Lake and Weyburn. Foster Creek, Christina Lake and Pelican Lake are located in northeast Alberta, and Weyburn is in Saskatchewan. The Company also has ownership interest in two high-quality refineries in Illinois and Texas. 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.” Get a free copy of the Zacks research report on Cenovus Energy Inc (USA) (CVE)