Stifel Firstegy Upgrades Cenovus Energy (TSE:CVE) to “Buy”

Stifel Firstegy upgraded shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from a hold rating to a buy rating in a research note published on Monday, Zacks.com reports.

Several other research analysts have also commented on CVE. Credit Suisse Group lowered Cenovus Energy from an outperform rating to a neutral rating and decreased their target price for the stock from C$8.00 to C$7.00 in a research report on Monday. Raymond James lifted their target price on Cenovus Energy from C$6.00 to C$7.50 and gave the stock a market perform rating in a research report on Monday. Tudor Pickering reiterated a hold rating and issued a C$6.00 target price on shares of Cenovus Energy in a research report on Tuesday, October 6th. CSFB lowered Cenovus Energy from an outperform rating to a neutral rating and reduced their price objective for the company from C$8.00 to C$7.00 in a research report on Monday. Finally, BMO Capital Markets boosted their price objective on Cenovus Energy from C$6.50 to C$7.50 in a research report on Monday, June 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of C$6.97.

CVE stock opened at C$4.40 on Monday. The company has a quick ratio of 0.72, a current ratio of 1.23 and a debt-to-equity ratio of 59.19. Cenovus Energy has a 52-week low of C$2.06 and a 52-week high of C$13.66. The stock’s 50 day moving average is C$5.16 and its two-hundred day moving average is C$5.66. The company has a market capitalization of $5.41 billion and a PE ratio of -3.12.

About Cenovus Energy

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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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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