Cenovus Energy Inc. (NYSE:CVE) Receives Consensus Recommendation of "Buy" from Analysts

Cenovus Energy Inc. (NYSE:CVE - Get Free Report) TSE: CVE has received a consensus rating of "Buy" from the five analysts that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $26.67.

Several equities research analysts have recently commented on CVE shares. Royal Bank of Canada restated an "outperform" rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Friday, January 26th. StockNews.com upgraded Cenovus Energy from a "buy" rating to a "strong-buy" rating in a report on Friday, May 3rd. UBS Group upgraded Cenovus Energy from a "neutral" rating to a "buy" rating in a report on Friday, February 23rd. Finally, Morgan Stanley boosted their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th.

Cenovus Energy Trading Up 1.2 %

CVE traded up $0.23 on Friday, reaching $20.21. 6,070,563 shares of the company traded hands, compared to its average volume of 10,653,875. The company has a quick ratio of 1.01, a current ratio of 1.70 and a debt-to-equity ratio of 0.25. The company has a market cap of $37.53 billion, a P/E ratio of 11.23 and a beta of 2.10. The firm has a fifty day simple moving average of $20.31 and a two-hundred day simple moving average of $18.08. Cenovus Energy has a one year low of $14.69 and a one year high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The business had revenue of $9.65 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the company posted $0.29 EPS. As a group, equities research analysts expect that Cenovus Energy will post 1.94 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.0981 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.82%. Cenovus Energy's payout ratio is 22.78%.

Hedge Funds Weigh In On Cenovus Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors increased its stake in Cenovus Energy by 5.4% during the 4th quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company's stock valued at $2,508,185,000 after purchasing an additional 7,750,480 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cenovus Energy by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company's stock valued at $1,030,177,000 after acquiring an additional 690,057 shares during the period. Wellington Management Group LLP raised its stake in Cenovus Energy by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company's stock worth $986,334,000 after acquiring an additional 388,652 shares during the last quarter. TD Asset Management Inc lifted its position in Cenovus Energy by 26.5% during the 4th quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company's stock worth $706,503,000 after acquiring an additional 8,841,374 shares during the period. Finally, Capital International Investors grew its stake in Cenovus Energy by 216.3% during the 1st quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company's stock valued at $678,250,000 after purchasing an additional 23,202,018 shares during the last quarter. 51.19% of the stock is owned by hedge funds and other 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.