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Cenovus Energy Inc (ADR) (CVE) [hlAlert]

Rating:
Underweight
CVE
up 20.36 %

Cenovus Energy Inc (ADR) (CVE) downgraded to Underweight with price target $23 by Barclays

Posted on: Monday,  Oct 12, 2015  2:25 PM ET by Barclays

Barclays rated Underweight Cenovus Energy Inc (ADR) (NYSE: CVE) on 10/12/2015. Previously Barclays rated Equal
Weight Cenovus Energy Inc (ADR) (NYSE: CVE) on 07/25/2014., when the stock price was $30.52. Since then, Cenovus Energy Inc (ADR) has lost 45.97% as of 10/12/2015's recent price of $16.49.

Cenovus Energy Inc. (Cenovus) is an integrated oil company. The Company?s operations include enhanced oil recovery (EOR) properties and established crude oil and natural gas production in Alberta and Saskatchewan. It also has ownership interests in two refineries in Illinois and Texas, United States. The Company operates in two operating divisions: Integrated Oil and Canadian Plains. Integrated Oil Division includes all the assets within the upstream and downstream integrated oil business with its joint venture partner, as well as bitumen interests and the Athabasca natural gas assets. The division has assets in both Canada and the United States, including two EOR properties: Foster Creek and Christina Lake, as well as two refineries, including Wood River and Borger. Canadian Plains Division contains crude oil and natural gas development assets in Alberta and Saskatchewan and includes two EOR properties: Weyburn and Pelican Lake, as well as the Southern Alberta oil and gas properties.

Barclays
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/12/2015 2:25 PM Sell
None
16.49 23.00
as of 8/27/2015
1 Week   
1 Month   
3 Months   
1 YTD up  6.52 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/25/2014 12:00 AM None
None
30.52
8/30/2012 1:25 PM Buy
None
32.18 41.00
4/2/2012 1:25 PM None
None
36.14

(*) Stock Price at the time of the recommendation.
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