Cenovus Energy Inc (NYSE:CVE) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Cenovus Energy Inc (NYSE:CVE - Get Free Report) TSE: CVE have received an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $23.00.

A number of research firms recently weighed in on CVE. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. The Goldman Sachs Group lowered their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $14.22 on Wednesday. The company's fifty day simple moving average is $13.84 and its 200-day simple moving average is $13.76. Cenovus Energy has a 52 week low of $10.23 and a 52 week high of $20.74. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The company has a market cap of $25.72 billion, a PE ratio of 13.29 and a beta of 0.93.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. The business had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same quarter last year, the firm posted $0.62 EPS. As a group, equities research analysts anticipate that Cenovus Energy will post 1.49 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.20 per share. This is a positive change from Cenovus Energy's previous dividend of $0.11. This represents a yield of 4.25%. The ex-dividend date was Friday, June 13th. Cenovus Energy's dividend payout ratio (DPR) is currently 54.21%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVE. Raymond James Financial Inc. bought a new position in shares of Cenovus Energy in the 4th quarter worth about $3,649,000. Sequoia Financial Advisors LLC lifted its position in shares of Cenovus Energy by 19.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 19,966 shares of the oil and gas company's stock worth $302,000 after buying an additional 3,320 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Cenovus Energy by 104.9% in 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 purchasing an additional 851 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Cenovus Energy by 34.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,835 shares of the oil and gas company's stock valued at $225,000 after purchasing an additional 3,827 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Cenovus Energy by 33.6% in the 4th quarter. Corient Private Wealth LLC now owns 69,627 shares of the oil and gas company's stock valued at $1,055,000 after purchasing an additional 17,529 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.

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.

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