Cenovus Energy Inc. (NYSE:CVE) Receives $30.75 Consensus PT from Analysts

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $30.75.

A number of research analysts recently commented on CVE shares. TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Scotiabank dropped their price objective on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. BMO Capital Markets cut their target price on Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Cenovus Energy Trading Up 0.2 %

NYSE CVE opened at $16.87 on Monday. Cenovus Energy has a 52 week low of $14.69 and a 52 week high of $21.90. The firm has a 50 day moving average of $17.78 and a two-hundred day moving average of $19.23. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $31.36 billion, a PE ratio of 9.37 and a beta of 2.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. The business had revenue of $10.88 billion for the quarter, compared to analysts’ expectations of $9.78 billion. As a group, research analysts expect that Cenovus Energy will post 1.84 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.132 per share. The ex-dividend date was Friday, September 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.13%. Cenovus Energy’s dividend payout ratio (DPR) is 29.44%.

Institutional Trading of Cenovus Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Cenovus Energy by 2.1% in the first quarter. Vanguard Group Inc. now owns 48,563,284 shares of the oil and gas company’s stock valued at $970,780,000 after purchasing an additional 1,008,341 shares during the period. Boston Partners raised its position in Cenovus Energy by 29.0% during the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after buying an additional 8,438,979 shares during the last quarter. Capital International Investors lifted its stake in shares of Cenovus Energy by 216.3% in the 1st quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company’s stock worth $678,250,000 after acquiring an additional 23,202,018 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Cenovus Energy by 81.1% in the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock valued at $246,507,000 after acquiring an additional 5,613,320 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Cenovus Energy by 5.3% during the second quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock worth $219,897,000 after acquiring an additional 562,663 shares during the period. 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.