Cenovus Energy (NYSE:CVE) (TSE:CVE)'s stock had its "outperform" rating reaffirmed by equities research analysts at National Bank Financial in a research note issued on Thursday, The Fly reports.
Several other research analysts also recently weighed in on the stock. Barclays restated a "hold" rating and set a $11.00 price target on shares of Cenovus Energy in a research report on Friday, April 2nd. Desjardins upgraded shares of Cenovus Energy from a "hold" rating to a "buy" rating and increased their price objective for the company from $8.00 to $14.00 in a report on Friday, March 26th. Zacks Investment Research downgraded shares of Cenovus Energy from a "hold" rating to a "sell" rating and set a $7.00 price objective for the company. in a report on Friday, February 12th. The Goldman Sachs Group initiated coverage on shares of Cenovus Energy in a report on Wednesday, January 13th. They issued a "buy" rating for the company. Finally, Raymond James upgraded shares of Cenovus Energy from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of "Buy" and an average target price of $9.52.
Shares of CVE stock traded up $0.02 during mid-day trading on Thursday, hitting $8.03. 477,000 shares of the stock were exchanged, compared to its average volume of 10,218,084. Cenovus Energy has a 52-week low of $2.39 and a 52-week high of $8.57. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $7.83 and a 200 day moving average of $5.90. The company has a market cap of $16.20 billion, a PE ratio of -6.27 and a beta of 3.12.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Monday, February 8th. The oil and gas company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.27). Cenovus Energy had a negative return on equity of 12.48% and a negative net margin of 14.15%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the company earned $0.09 EPS. Equities analysts predict that Cenovus Energy will post -1.25 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CVE. Marshall Wace LLP purchased a new stake in Cenovus Energy during the first quarter worth about $25,000. Key Financial Inc purchased a new stake in Cenovus Energy during the fourth quarter worth approximately $32,000. Stratos Wealth Partners LTD. purchased a new position in shares of Cenovus Energy in the fourth quarter valued at $60,000. Laidlaw Wealth Management LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $60,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Cenovus Energy in the 4th quarter worth about $66,000. Institutional investors own 72.72% of the company's stock.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.
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