Cenovus Energy Inc (NYSE:CVE - Get Free Report) TSE: CVE has earned an average recommendation of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.00.
Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research note on Friday, April 11th.
Get Our Latest Research Report on CVE
Cenovus Energy Stock Performance
NYSE CVE traded up $0.03 during trading hours on Wednesday, reaching $14.07. The company's stock had a trading volume of 10,698,040 shares, compared to its average volume of 9,957,649. The business has a 50-day simple moving average of $13.93 and a 200 day simple moving average of $13.74. The stock has a market cap of $25.46 billion, a PE ratio of 13.15 and a beta of 0.93. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. Cenovus Energy has a 52 week low of $10.23 and a 52 week high of $20.40.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. The firm had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. During the same quarter in the previous year, the business posted $0.62 earnings per share. Equities research analysts predict that Cenovus Energy will post 1.49 earnings per share for the current fiscal year.
Cenovus Energy Increases Dividend
The business also recently announced a dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.20 per share. This represents a dividend yield of 4.25%. The ex-dividend date was Friday, June 13th. This is an increase from Cenovus Energy's previous dividend of $0.11. Cenovus Energy's payout ratio is presently 54.21%.
Institutional Trading of Cenovus Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of CVE. Farther Finance Advisors LLC grew its stake in shares of 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 worth $25,000 after acquiring an additional 851 shares in the last quarter. Ridgewood Investments LLC bought a new position in Cenovus Energy during the second quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new position in Cenovus Energy during the first quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new position in Cenovus Energy during the first quarter valued at about $42,000. Finally, Cromwell Holdings LLC grew its position in 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 buying an additional 2,808 shares during the period. Institutional investors own 51.19% of the company's stock.
Cenovus Energy Company Profile
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Get Free ReportCenovus 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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