Cenovus Energy Inc (NYSE:CVE) Given Consensus Rating of "Buy" by Analysts

Key Points

• Cenovus Energy Inc has received a consensus rating of "Buy" from eleven research firms, with two strong buy and seven buy ratings issued.
• The company recently declared a quarterly dividend of $0.20 per share, representing a 4.5% dividend yield and a payout ratio of 57.43%.
• Cenovus Energy's stock was noted to be trading at approximately $17.76, with a market capitalization of $31.74 billion and a 12-month target price averaging $23.33 among analysts.

Cenovus Energy Inc (NYSE:CVE - Get Free Report) TSE: CVE has earned a consensus rating of "Buy" from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $23.3333.

Several research analysts have weighed in on CVE shares. National Bank Financial raised Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Royal Bank Of Canada upped their target price on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. UBS Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Cenovus Energy in a research report on Wednesday, September 10th.

Cenovus Energy Stock Up 0.3%

NYSE:CVE opened at $17.76 on Monday. The firm has a market capitalization of $31.74 billion, a price-to-earnings ratio of 17.58 and a beta of 0.99. Cenovus Energy has a 1-year low of $10.23 and a 1-year high of $18.61. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. The business's fifty day moving average price is $15.93 and its 200 day moving average price is $14.21.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.19. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The company had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. During the same period in the prior year, the firm posted $0.62 EPS. The business's revenue was down 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cenovus Energy will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Cenovus Energy's dividend payout ratio is 57.43%.

Institutional Trading of Cenovus Energy

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Cenovus Energy by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company's stock worth $757,213,000 after acquiring an additional 4,401,045 shares in the last quarter. Boston Partners boosted its stake in shares of Cenovus Energy by 2.3% during the 2nd quarter. Boston Partners now owns 26,845,367 shares of the oil and gas company's stock worth $365,097,000 after acquiring an additional 606,042 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Cenovus Energy by 7.2% during the 2nd quarter. Mackenzie Financial Corp now owns 20,890,672 shares of the oil and gas company's stock worth $284,447,000 after acquiring an additional 1,409,439 shares in the last quarter. Smead Capital Management Inc. boosted its stake in shares of Cenovus Energy by 13.3% during the 2nd quarter. Smead Capital Management Inc. now owns 17,552,075 shares of the oil and gas company's stock worth $238,999,000 after acquiring an additional 2,056,163 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cenovus Energy by 33.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company's stock worth $241,513,000 after acquiring an additional 4,362,384 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.