Royal Bank of Canada Reiterates Outperform Rating for Cenovus Energy (NYSE:CVE)

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE's stock had its "outperform" rating reiterated by stock analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $25.00 target price on the oil and gas company's stock. Royal Bank of Canada's price target points to a potential upside of 123.45% from the company's previous close.

A number of other equities analysts have also weighed in on the stock. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com cut Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Finally, National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Cenovus Energy Stock Down 0.6 %

Shares of NYSE:CVE traded down $0.06 on Wednesday, hitting $11.19. 14,479,979 shares of the company traded hands, compared to its average volume of 8,619,170. The stock has a 50 day simple moving average of $14.09 and a 200-day simple moving average of $15.30. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a market cap of $20.40 billion, a PE ratio of 9.25 and a beta of 1.46. Cenovus Energy has a 52 week low of $10.58 and a 52 week high of $21.90.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, research analysts expect that Cenovus Energy will post 1.49 earnings per share for the current year.

Hedge Funds Weigh In On Cenovus Energy

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Cenovus Energy by 104.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after buying an additional 851 shares during the period. Sierra Ocean LLC bought a new stake in shares of Cenovus Energy during the 4th quarter valued at $67,000. Blue Trust Inc. grew its position in shares of 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 valued at $72,000 after acquiring an additional 1,677 shares during the period. Natixis purchased a new stake in shares of Cenovus Energy in the 4th quarter worth $98,000. Finally, Black Maple Capital Management LP bought a new position in Cenovus Energy in the 4th quarter worth $167,000. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Company Profile

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.