January 18, 2017 - 10:24 PM EST
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Morning Mover: Cenovus Energy Inc. (CVE:CA) Loses 1.17% to Drag on TSX Composite Energy Stocks on January 18

Cenovus Energy Inc. (CVE:CA) is a clear laggard in the energy sector of the S&P/TSX Composite Index shortly after the opening bell on January 18. Shares of CVE:CA have fallen 1.17% early in the session to $19.36 after closing the day prior at $19.59. So far, the stock has traded as high as $19.41 and as low as $19.27 in morning action. Today's advance has come with about 237,278 shares changing hands, compared to an average 30-day volume of 1.76 million for Cenovus Energy Inc.. The price is currently below the 30-day volume weighted average price of $19.36 for CVE:CA. The share depreciation gives the energy company a market capitalization of $16.32 billion based upon 833.2 million shares outstanding. It also means that Cenovus Energy I has a price-to-book ratio of 1.44:1 and a price-to-earnings ratio of :1. In the past 52 weeks, shares of CVE:CA have traded as low as $12.74 and as high as $22.06. Technical traders will take note that at $19.36, shares of CVE:CA are trading above their 200-day MA at $19.08 and below their 50-day MA at $20.06. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish. Who is Cenovus Energy I? Cenovus Energy Inc is an integrated oil company. The Company is in the business of developing, producing and marketing crude oil, NGLs and natural gas in Canada with refining operations in the United States. The company’s 3005 employees are led by CEO Brian Ferguson from the corporate headquarters at 2600, 500 Centre Street South East. What is the S&P/TSX Composite Index? Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index. For more information on Cenovus Energy I and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com

Source: Financial Press News (January 18, 2017 - 10:24 PM EST)

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