Cenovus Energy Inc. (NYSE:CVE) Receives Average Rating of "Buy" from Brokerages

Shares of Cenovus Energy Inc. (NYSE:CVE - Get Free Report) TSE: CVE have been assigned an average rating of "Buy" from the five ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $26.67.

A number of research firms have recently weighed in on CVE. Royal Bank of Canada reiterated an "outperform" rating and issued a $28.00 price target on shares of Cenovus Energy in a research report on Friday, January 26th. StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Thursday, November 30th. Morgan Stanley increased their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, UBS Group upgraded shares of Cenovus Energy from a "neutral" rating to a "buy" rating in a research report on Friday, February 23rd.

Cenovus Energy Stock Performance

Cenovus Energy stock traded up $0.16 during midday trading on Thursday, reaching $20.00. 5,328,192 shares of the company's stock were exchanged, compared to its average volume of 11,797,323. The stock's 50-day simple moving average is $17.35 and its 200 day simple moving average is $17.96. The firm has a market cap of $37.32 billion, a price-to-earnings ratio of 12.66 and a beta of 2.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56. Cenovus Energy has a 52 week low of $14.69 and a 52 week high of $21.37.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. During the same period last year, the business posted $0.29 earnings per share. On average, analysts expect that Cenovus Energy will post 1.73 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be given a dividend of $0.1033 per share. The ex-dividend date is Thursday, March 14th. This is an increase from Cenovus Energy's previous quarterly dividend of $0.10. This represents a $0.41 annualized dividend and a yield of 2.07%. Cenovus Energy's dividend payout ratio (DPR) is currently 25.95%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quilter Plc acquired a new stake in Cenovus Energy during the 1st quarter valued at approximately $866,944,000. NBC Securities Inc. bought a new position in Cenovus Energy during the third quarter worth $34,000. Financial Perspectives Inc bought a new position in shares of Cenovus Energy in the 4th quarter worth about $28,000. Headlands Technologies LLC bought a new stake in shares of Cenovus Energy during the 4th quarter valued at about $33,000. Finally, KB Financial Partners LLC acquired a new position in shares of Cenovus Energy during the 1st quarter valued at $40,000. 51.19% of the stock is owned by institutional investors.

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.