Trending Stocks in Review: Cenovus Energy Inc. (NYSE:CVE)


Cenovus Energy Inc. (NYSE:CVE) added 9.57% and closed its last session at $15.46. The stock has the market capitalization of $12.89 Billion with the total outstanding shares of 834.04 Million. Cenovus Energy Inc.. has Analysts’ Mean Recommendation of 2.17 between the scale of 1 to 5 (1 represents Strong Buy and 5 means Sell). The stock currently has P/E of 0 for trailing twelve months while its Forward P/E is 0.

Cenovus Energy Inc. (NYSE:CVE) touched its 52-Week High of $16.56 on Jun 8, 2016 while it’s 52-Week Low of $9.1 on Feb 11, 2016. The company currently has Return on Assets of -5.1 percent, Return on Equity of -10.8% and Return on Investment of 8.7 percent. The stock currently showing Weekly Volatility of 2.75%% and Monthly Volatility of 3.03% Percent with Average True Range of 0.58 and Beta of 0.75.

The 22 analysts offering 12-month price forecasts for Cenovus Energy Inc have a median target of 16.72, with a high estimate of 19.64 and a low estimate of 10.37. The median estimate represents a +8.14% increase from the last price of 15.46.

Press Release:

The Company on 27 October continued to deliver safe and reliable operating performance. In 2016, the company has achieved consistent quarter-over-quarter increases in its oil sands production and steadily reduced total per-barrel oil operating costs. Compared with the same period in 2015, third-quarter oil sands volumes grew 5%, while total oil operating costs declined 14% per barrel (bbl).

Key developments

  • Achieved first oil at Foster Creek phase G, began start-up of Christina Lake phase F and completed the Wood River Refinery debottlenecking project
  • Reached oil sands production of almost 74,000 barrels per day (bbls/d) net at Foster Creek, 3% higher than in the third quarter of 2015
  • Increased production at Christina Lake to almost 80,000 bbls/d net, 6% higher than in the third quarter of 2015
  • Decreased total per-barrel oil operating costs by 14%, including a 9% reduction in oil sands per-barrel operating costs, compared with the third quarter of 2015
  • Achieved target of reducing capital, operating and general and administrative (G&A) costs by $500 million for the year compared with original 2016 budget
  • Exited the quarter with nearly $8 billion in liquidity, including $4 billion in unused credit facilities and almost $3.9 billion in cash, with net debt to capitalization of 17%

Company Profile:

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.