Shares of Cenovus Energy Inc. (NYSE:CVE - Get Free Report) TSE: CVE have earned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $29.25.
Several analysts have issued reports on CVE shares. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Royal Bank of Canada dropped their target price on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com cut Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th.
Read Our Latest Report on Cenovus Energy
Hedge Funds Weigh In On Cenovus Energy
A number of institutional investors have recently modified their holdings of CVE. Truvestments Capital LLC purchased a new position in shares of Cenovus Energy in the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC increased its stake in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after buying an additional 851 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Cenovus Energy during the 4th quarter worth approximately $67,000. Blue Trust Inc. increased its stake in Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after buying an additional 1,677 shares in the last quarter. Finally, Natixis purchased a new stake in Cenovus Energy during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 51.19% of the company's stock.
Cenovus Energy Trading Up 2.3 %
CVE opened at $13.25 on Thursday. The stock's fifty day moving average is $14.59 and its two-hundred day moving average is $15.76. The company has a market capitalization of $24.16 billion, a P/E ratio of 10.95 and a beta of 1.99. Cenovus Energy has a 52 week low of $12.07 and a 52 week high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. Analysts forecast that Cenovus Energy will post 1.49 earnings per share for the current year.
Cenovus Energy Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.83%. Cenovus Energy's dividend payout ratio is currently 40.50%.
Cenovus Energy Company Profile
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Get Free ReportCenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.
Further Reading
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