Could Cenovus Energy Inc (NYSE:CVE) See a Reversal After More Sellers Came In?

April 25, 2018 - By Ellis Scott

Cenovus Energy Inc. (NYSE:CVE) Logo

The stock of Cenovus Energy Inc (NYSE:CVE) registered an increase of 11.12% in short interest. CVE’s total short interest was 28.93M shares in April as published by FINRA. Its up 11.12% from 26.03 million shares, reported previously. With 4.23M shares average volume, it will take short sellers 7 days to cover their CVE’s short positions. The short interest to Cenovus Energy Inc’s float is 2.84%.

The stock decreased 1.04% or $0.1 during the last trading session, reaching $9.5. About 3.75 million shares traded. Cenovus Energy Inc. (NYSE:CVE) has declined 35.61% since April 25, 2017 and is downtrending. It has underperformed by 47.16% the S&P500.

Cenovus Energy Inc. develops, produces, and markets crude oil, natural gas liquids , and natural gas in Canada. The company has market cap of $11.75 billion. The Company’s Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. It has a 3.98 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.

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 15.79% above currents $9.5 stock price. Cenovus Energy Inc Common Stock had 4 analyst reports since March 7, 2018 according to SRatingsIntel. Bank of America maintained the shares of CVE in report on Thursday, April 5 with “Neutral” rating. The stock of Cenovus Energy Inc. (NYSE:CVE) has “Market Perform” rating given on Tuesday, April 24 by Raymond James. Morgan Stanley maintained it with “Equal-Weight” rating and $13 target in Monday, April 16 report.

Cenovus Energy Inc. (NYSE:CVE) Ratings Chart

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