Cenovus Energy (CVE) Share Price May Be About to Change Direction; Goldman Sachs Downgrades Them

September 8, 2018 - By Jack Shaw

Cenovus Energy Inc. (NYSE:CVE) Logo

Cenovus Energy (CVE) Receives a Downgrade

The Rating of Cenovus Energy (CVE) shares have been downgraded by Goldman Sachs from a Neutral rating to a Sell rating in a research note published on Friday, 7 September.

The stock increased 0.45% or $0.04 during the last trading session, reaching $8.88. About 6.39M shares traded or 116.77% up from the average. Cenovus Energy Inc. (CVE) has risen 12.38% since September 8, 2017 and is uptrending. It has underperformed by 0.19% the S&P500.

Analysts await Cenovus Energy Inc. (NYSE:CVE) to report earnings on November, 1. They expect $0.14 EPS, down 22.22 % or $0.04 from last year’s $0.18 per share. CVE’s profit will be $173.34 million for 15.86 P/E if the $0.14 EPS becomes a reality. After $-0.19 actual EPS reported by Cenovus Energy Inc. for the previous quarter, Wall Street now forecasts -173.68 % 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 $11.00 billion. The Company’s Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. It currently has negative earnings. 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.

More important recent Cenovus Energy Inc. (NYSE:CVE) news were published by: Seekingalpha.com which released: “Cenovus: Valuing The Deep Basin Assets” on September 03, 2018, also Streetinsider.com published article titled: “Cenovus Energy (CVE) signed a new deal last week with Canadian National Railway (CNI) to move more crude by rail …”, Seekingalpha.com published: “Cash Flow Autobahn Ahead For Cenovus Energy” on August 16, 2018. More interesting news about Cenovus Energy Inc. (NYSE:CVE) was released by: Seekingalpha.com and their article: “Cenovus: The Market Undervalues The Company” with publication date: September 06, 2018.

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