Cenovus Energy Inc. (NYSE:CVE) Receives $30.00 Average Price Target from Brokerages

Shares of Cenovus Energy Inc. (NYSE:CVE - Get Free Report) TSE: CVE have been assigned an average rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.00.

A number of analysts have recently issued reports on the company. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Royal Bank of Canada restated an "outperform" rating and set a $28.00 price objective on shares of Cenovus Energy in a report on Monday, January 6th. Finally, BMO Capital Markets reduced their target price on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a research note on Friday, November 1st.

Institutional Investors Weigh In On Cenovus Energy

Institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Cenovus Energy in the third quarter worth $25,000. Farther Finance Advisors LLC lifted its position in shares of Cenovus Energy by 104.9% in 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 during the last quarter. Blue Trust Inc. boosted its holdings in shares of Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock valued at $51,000 after buying an additional 2,651 shares during the period. Sierra Ocean LLC bought a new stake in shares of Cenovus Energy during the 4th quarter valued at about $67,000. Finally, Natixis acquired a new stake in Cenovus Energy during the fourth quarter worth about $98,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Up 1.3 %

Cenovus Energy stock traded up $0.20 during midday trading on Friday, hitting $15.66. 10,005,049 shares of the stock were exchanged, compared to its average volume of 10,551,467. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The company has a 50 day moving average price of $14.99 and a two-hundred day moving average price of $16.33. The firm has a market cap of $28.55 billion, a P/E ratio of 10.80 and a beta of 1.99. Cenovus Energy has a 1 year low of $13.76 and a 1 year high of $21.90.

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.