Extremely important negative changes in investment behavior have recently occurred for Cenovus Energy Inc (NYSE: CVE): the stock’s recent price decline challenged its longer term uptrend, its shorter term price trend turned down, and negative upside/downside volume developed.
Cenovus Energy Inc (NYSE: CVE). Slight negative changes in fundamentals have recently occurred: significant quarterly earnings deceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of A. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
CVE is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Cenovus Energy has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Cenovus Energy has a good Appreciation Score of 71 and a very high Power Rating of 88, resulting in the Highest Value Trend Rating.
Recent Price Action
On 11/8/23, Cenovus Energy Inc (NYSE: CVE) stock suffered a large decline of -2.1%, closing at $17.53. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -8.1% during the last week.
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