Shares of Cenovus Energy Inc (NYSE:CVE - Get Free Report) TSE: CVE have earned an average rating of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.3333.
A number of equities research analysts have weighed in on CVE shares. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Wall Street Zen raised Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Royal Bank Of Canada increased their price objective on shares of Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. The Goldman Sachs Group dropped their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th.
Read Our Latest Research Report on Cenovus Energy
Institutional Investors Weigh In On Cenovus Energy
Several hedge funds have recently modified their holdings of CVE. Ridgewood Investments LLC bought a new position in Cenovus Energy during the 2nd quarter worth approximately $27,000. Atlantic Union Bankshares Corp bought a new stake in shares of Cenovus Energy in the 2nd quarter worth approximately $27,000. Allworth Financial LP lifted its holdings in shares of Cenovus Energy by 104.3% in the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 1,168 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in Cenovus Energy in the 1st quarter valued at about $38,000. Finally, Cromwell Holdings LLC increased its position in Cenovus Energy by 1,165.1% in the 1st quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 2,808 shares during the period. 51.19% of the stock is currently owned by hedge funds and other institutional investors.
Cenovus Energy Price Performance
Cenovus Energy stock opened at $14.88 on Friday. The stock has a market capitalization of $26.87 billion, a P/E ratio of 14.73 and a beta of 0.97. The company's fifty day moving average price is $14.29 and its 200 day moving average price is $13.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.32. Cenovus Energy has a 1 year low of $10.23 and a 1 year high of $20.03.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings results on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.19. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The firm had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. During the same period in the previous year, the business posted $0.62 earnings per share. Cenovus Energy's quarterly revenue was down 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Cenovus Energy will post 1.49 earnings per share for the current fiscal year.
Cenovus Energy Increases Dividend
The company also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a dividend yield of 425.0%. This is an increase from Cenovus Energy's previous dividend of $0.11. Cenovus Energy's dividend payout ratio is presently 57.43%.
Cenovus Energy Company Profile
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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.
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