Just How Positive is BMO Capital on Cenovus Energy Inc Common Stock (NYSE:CVE) Following Their Upgrade?

May 17, 2018 - By James Guidry

Cenovus Energy Inc. (NYSE:CVE) Logo

Cenovus Energy Inc Common Stock (NYSE:CVE) Stock Upgrade

BMO Capital gave Cenovus Energy Inc Common Stock (NYSE:CVE) shares a new Outperform rating in a research report issued to clients on Thursday, 17 May. The upgrade from the previous Market Perform rating is certainly an interesting one.

Cenovus Energy Inc. (NYSE:CVE) Ratings Coverage

Among 4 analysts covering Cenovus Energy Inc Common Stock (NYSE:CVE), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. Cenovus Energy Inc Common Stock has $13 highest and $9 lowest target. $11’s average target is -1.79% below currents $11.2 stock price. Cenovus Energy Inc Common Stock had 4 analyst reports since March 7, 2018 according to SRatingsIntel. Bank of America maintained it with “Neutral” rating and $9 target in Thursday, April 5 report. The rating was maintained by Morgan Stanley with “Equal-Weight” on Monday, April 16. On Tuesday, April 24 the stock rating was upgraded by Raymond James to “Market Perform”.

The stock increased 2.94% or $0.32 during the last trading session, reaching $11.2. About 5.74M shares traded or 25.93% up from the average. Cenovus Energy Inc. (NYSE:CVE) has declined 35.61% since May 17, 2017 and is downtrending. It has underperformed by 47.16% the S&P500.

Analysts await Cenovus Energy Inc. (NYSE:CVE) to report earnings on July, 26. They expect $-0.03 EPS, down 111.11 % or $0.30 from last year’s $0.27 per share. After $-0.48 actual EPS reported by Cenovus Energy Inc. for the previous quarter, Wall Street now forecasts -93.75 % EPS growth.

Cenovus Energy Inc. develops, produces, and markets crude oil, natural gas liquids , and natural gas in Canada. The company has market cap of $13.69 billion. The Company’s Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. It has a 4.7 P/E ratio. This segmentÂ’s bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

Another recent and important Cenovus Energy Inc. (NYSE:CVE) news was published by 247Wallst.com which published an article titled: “Top Analyst Upgrades and Downgrades: AIG, Baxter, Cisco, Eiger Bio, Energy Transfer, Juniper, NOV, Phillips 66 …” on May 17, 2018.

Cenovus Energy Inc. (NYSE:CVE) Ratings Chart

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