Cenovus Energy Inc. (NYSE:CVE) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Cenovus Energy Inc. (NYSE:CVE - Get Free Report) TSE: CVE have earned an average rating of "Moderate Buy" from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $29.00.

Several analysts recently commented on CVE shares. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Royal Bank of Canada restated an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a report on Friday. StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Finally, National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its position 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 acquiring an additional 851 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter worth approximately $67,000. Blue Trust Inc. boosted its holdings in shares of Cenovus Energy by 54.7% during the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 1,677 shares during the period. Natixis purchased a new position in Cenovus Energy during the fourth quarter valued at approximately $98,000. Finally, Black Maple Capital Management LP acquired a new position in Cenovus Energy in the 4th quarter valued at approximately $167,000. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

Shares of CVE traded up $0.29 during midday trading on Monday, reaching $11.39. The stock had a trading volume of 7,934,165 shares, compared to its average volume of 8,677,515. The firm's 50 day moving average price is $13.61 and its 200-day moving average price is $15.04. Cenovus Energy has a 52 week low of $10.23 and a 52 week high of $21.58. The company has a market capitalization of $20.76 billion, a P/E ratio of 9.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results 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). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. On average, analysts forecast that Cenovus Energy will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.1269 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 4.46%. Cenovus Energy's dividend payout ratio (DPR) is presently 40.50%.

About Cenovus Energy

Cenovus 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.