Published: Thu, May 18, 2017
Markets | By Noel Gibbs

Cenovus Energy Inc (CVE) Director Acquires C$332500.00 in Stock


Large investors have recently added to or reduced their stakes in the company. Cenovus Energy has a 52-week low of $9.18 and a 52-week high of $16.82.

Cenovus Energy Inc (TSE:CVE) traded up 1.98% during midday trading on Monday, reaching $13.41.

Cenovus Energy Inc. closed its last trading session at $9.88 with the loss of -3.54%.

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Stock is now moving with a negative distance from the 200 day simple moving average of approximately -32.07%, and has a poor year to date (YTD) performance of -38.6% which means the stock is constantly subtracting to its value from the previous fiscal year end price.

A number of analysts have issued reports on the stock.

Stockholders of record on Thursday, June 15th will be paid a dividend of 0.0371 per share by the oil and gas company on Friday, June 30th. During the same period previous year, the business earned ($0.51) EPS. The company has market cap of $422.82 million. The stock of Cenovus Energy Inc (USA) (NYSE:CVE) has "Neutral" rating given on Tuesday, December 15 by JP Morgan. With 1.12M avg volume, 0 days are for SURNA INCORPORATED (OTCMKTS:SRNA)'s short sellers to cover SRNA's short positions. The expected future growth in earnings per share ("EPS") is an incredibly important factor in identifying an under-valued stock. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by $0.06. The company is set at a mean analysts' recommendation of 2.20. Goldman Sachs Group Inc dropped their price target on shares of Cenovus Energy from $13.00 to $12.00 and set a sell rating on the stock in a research note on Wednesday, March 8th. The ex-dividend date is Tuesday, June 13th. JPMorgan Chase & Co. cut their target price on shares of Cenovus Energy from C$21.00 to C$19.00 in a research report on Friday, March 31st. Acquisition of Cenovus Common Shares At closing, Cenovus issued 208 million common shares to ConocoPhillips as partial consideration for the disposition of the assets and ConocoPhillips now owns approximately 16.9 percent of the issued and outstanding Cenovus common shares. FNY Partners Fund LP bought a new stake in shares of Cenovus Energy during the first quarter worth about $113,000. Finally, Monashee Investment Management LLC purchased a new stake in Cenovus Energy during the first quarter worth $5,650,000. Equities analysts forecast that Cenovus Energy will post $0.23 EPS for the current year. Letko Brosseau & Associates Inc. now owns 19,804,042 shares of the oil and gas company's stock worth $223,728,000 after buying an additional 5,982,700 shares in the last quarter.

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Analysts have a mean recommendation of 2.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The Switzerland-based Robecosam Ag has invested 0.13% in the stock.

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ConocoPhillips said Wednesday it completed the $13.3 billion sale to partner Cenovus of its 50% non-operated interest in the Foster Creek Christina Lake oil sands partnership and the majority of its western Canada Deep Basin gas assets. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta, British Columbia and Saskatchewan.

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