Cenovus Energy Inc (NYSE:CVE) traded at a new 52-week high today of $10.39. This new high was reached on below average trading volume as 5 million shares traded hands, while the average 30-day volume is approximately 10.4 million shares.
Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.
There is potential upside of 372.6% for shares of Cenovus Energy Inc based on a current price of $10.29 and an average consensus analyst price target of $48.64.
Over the past year, Cenovus Energy Inc has traded in a range of $3.15 to $10.39 and is now at $10.29, 227% above that low.
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