Cenovus Energy (NYSE:CVE) Rating Lowered to Buy at StockNews.com

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Thursday.

A number of other equities research analysts also recently issued reports on the company. Raymond James upgraded Cenovus Energy to a "moderate buy" rating in a research note on Tuesday, May 28th. Morgan Stanley boosted their price target on Cenovus Energy from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cenovus Energy has a consensus rating of "Buy" and an average target price of $29.00.

Cenovus Energy Stock Up 1.7 %

CVE traded up $0.32 during trading on Thursday, hitting $19.67. 4,855,287 shares of the company's stock traded hands, compared to its average volume of 9,827,845. The stock has a market capitalization of $36.57 billion, a price-to-earnings ratio of 10.93 and a beta of 2.06. The company's 50 day simple moving average is $20.00 and its two-hundred day simple moving average is $18.43. Cenovus Energy has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.98 billion. Analysts predict that Cenovus Energy will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of Cenovus Energy

Large investors have recently added to or reduced their stakes in the company. SVB Wealth LLC boosted its holdings in shares of Cenovus Energy by 2.6% in the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company's stock worth $394,000 after purchasing an additional 507 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Cenovus Energy by 17.6% in the 1st quarter. Lindbrook Capital LLC now owns 4,240 shares of the oil and gas company's stock worth $85,000 after purchasing an additional 636 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Cenovus Energy by 80.3% in the 1st quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 647 shares during the period. Spire Wealth Management boosted its holdings in shares of Cenovus Energy by 41.9% in the 4th quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 681 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Cenovus Energy by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 156,345 shares of the oil and gas company's stock worth $2,603,000 after purchasing an additional 774 shares during the period. 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.