Cenovus Energy Inc. (NYSE:CVE) Receives $25.75 Consensus PT from Analysts

Shares of Cenovus Energy Inc. (NYSE:CVE - Get Free Report) TSE: CVE have been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $25.75.

Several equities research analysts recently issued reports on the company. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Finally, Veritas cut Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock traded down $0.37 on Tuesday, hitting $13.18. The company's stock had a trading volume of 10,733,240 shares, compared to its average volume of 9,217,575. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. Cenovus Energy has a 1 year low of $10.23 and a 1 year high of $20.89. The firm has a fifty day moving average price of $12.61 and a 200-day moving average price of $14.03. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 10.89 and a beta of 0.95.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The firm had revenue of $11.15 billion during the quarter, compared to analyst estimates of $12.39 billion. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, sell-side analysts anticipate that Cenovus Energy will post 1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVE. Janney Montgomery Scott LLC acquired a new position in shares of Cenovus Energy during the 4th quarter worth approximately $682,000. Blue Trust Inc. boosted its holdings in shares of Cenovus Energy by 122.2% during the 4th quarter. Blue Trust Inc. now owns 6,809 shares of the oil and gas company's stock worth $114,000 after purchasing an additional 3,744 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Cenovus Energy by 43.1% during the 4th quarter. Mediolanum International Funds Ltd now owns 120,257 shares of the oil and gas company's stock worth $1,776,000 after purchasing an additional 36,233 shares during the last quarter. Montgomery Investment Management Inc. boosted its holdings in shares of Cenovus Energy by 1.6% during the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock worth $857,000 after purchasing an additional 894 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in shares of Cenovus Energy during the 4th quarter worth approximately $7,123,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

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.