Cenovus Energy Inc. (NYSE:CVE – Get Free Report) (TSE:CVE) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 13,240,000 shares, an increase of 6.9% from the August 15th total of 12,390,000 shares. Based on an average daily volume of 7,080,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.0% of the company’s shares are short sold.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on CVE. Scotiabank lowered their target price on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Finally, StockNews.com downgraded Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $30.67.
Get Our Latest Stock Analysis on CVE
Institutional Trading of Cenovus Energy
Cenovus Energy Price Performance
Shares of CVE traded down $0.09 during mid-day trading on Wednesday, reaching $16.63. 8,617,301 shares of the stock traded hands, compared to its average volume of 9,053,849. The firm has a fifty day moving average price of $18.70 and a 200 day moving average price of $19.45. The company has a market cap of $30.91 billion, a price-to-earnings ratio of 9.24 and a beta of 2.05. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. Cenovus Energy has a 1 year low of $14.69 and a 1 year high of $21.90.
Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The firm had revenue of $10.88 billion for the quarter, compared to analysts’ expectations of $9.78 billion. As a group, equities research analysts predict that Cenovus Energy will post 1.85 earnings per share for the current year.
Cenovus Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.132 dividend. This represents a $0.53 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s dividend payout ratio is presently 29.44%.
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.
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