Cenovus Energy (NYSE:CVE) Lowered to Hold Rating by StockNews.com

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

Other research analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. TD Securities cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cenovus Energy presently has an average rating of "Moderate Buy" and an average price target of $30.00.

Cenovus Energy Trading Down 0.3 %

Cenovus Energy stock traded down $0.05 during midday trading on Friday, reaching $14.64. 6,643,454 shares of the stock traded hands, compared to its average volume of 8,723,835. The firm has a market cap of $26.72 billion, a PE ratio of 10.10 and a beta of 2.02. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $15.70 and a two-hundred day simple moving average of $17.51. Cenovus Energy has a 12-month low of $14.20 and a 12-month high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.08. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company's revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Research analysts expect that Cenovus Energy will post 1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Truvestments Capital LLC purchased a new position in Cenovus Energy during the 3rd quarter worth $25,000. Blue Trust Inc. raised its holdings in Cenovus Energy by 640.3% during the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock worth $51,000 after purchasing an additional 2,651 shares in the last quarter. SevenBridge Financial Group LLC purchased a new position in Cenovus Energy during the third quarter worth about $162,000. Northwestern Mutual Wealth Management Co. lifted its position in Cenovus Energy by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock valued at $170,000 after purchasing an additional 643 shares during the period. Finally, FCG Investment Co purchased a new stake in Cenovus Energy in the 3rd quarter valued at approximately $211,000. 51.19% of the stock is owned by hedge funds and other institutional investors.

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.