Analysts Set Cenovus Energy Inc. (NYSE:CVE) Price Target at $25.75

Shares of Cenovus Energy Inc. (NYSE:CVE - Get Free Report) TSE: CVE have been assigned an average recommendation of "Moderate Buy" from the nine research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $25.75.

Several brokerages recently weighed in on CVE. National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. The Goldman Sachs Group decreased their target price on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Veritas cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th.

Cenovus Energy Stock Performance

Shares of NYSE CVE traded down $0.35 during trading on Tuesday, hitting $13.21. The company had a trading volume of 6,734,550 shares, compared to its average volume of 9,184,214. Cenovus Energy has a 12 month low of $10.23 and a 12 month high of $21.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The firm has a market capitalization of $24.07 billion, a P/E ratio of 10.91 and a beta of 0.95. The stock has a 50 day simple moving average of $12.64 and a 200 day simple moving average of $14.06.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in 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 valued at $25,000 after buying an additional 851 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Cenovus Energy in the first quarter worth $38,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cenovus Energy during the first quarter worth $42,000. Cromwell Holdings LLC boosted its stake in shares of Cenovus Energy by 1,165.1% during the first quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 2,808 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Cenovus Energy in the fourth quarter worth about $67,000. Institutional investors own 51.19% of the company's stock.

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.