Cenovus Energy's (CVE) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Cenovus Energy (NYSE:CVE - Free Report) TSE: CVE in a research report released on Friday,Benzinga reports. Royal Bank of Canada currently has a $25.00 price objective on the oil and gas company's stock.

Other equities research analysts have also issued reports about the company. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.00.

Cenovus Energy Trading Up 2.6 %

CVE traded up $0.29 on Friday, hitting $11.62. The company had a trading volume of 7,593,017 shares, compared to its average volume of 8,644,267. Cenovus Energy has a 12-month low of $10.23 and a 12-month high of $21.58. 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 business's fifty day simple moving average is $13.47 and its 200 day simple moving average is $14.97. The company has a market cap of $21.18 billion, a PE ratio of 9.60 and a beta of 1.46.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted 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). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Equities research analysts expect that Cenovus Energy will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio (DPR) is currently 40.50%.

Institutional Trading of Cenovus Energy

Several hedge funds have recently modified their holdings of CVE. Farther Finance Advisors LLC raised its stake in shares of 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 in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Cenovus Energy in the 1st quarter worth $38,000. Sierra Ocean LLC acquired a new stake in shares of Cenovus Energy in the 4th quarter worth $67,000. Blue Trust Inc. grew 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 during the last quarter. Finally, Natixis acquired a new position in Cenovus Energy during the 4th quarter valued at about $98,000. 51.19% of the stock is owned by hedge funds and other institutional investors.

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.