CIBC upgraded shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) from a neutral rating to an outperform rating in a report published on Thursday morning, The Fly reports.
Several other analysts have also weighed in on the stock. Goldman Sachs Group raised their price objective on shares of MEG Energy from C$6.00 to C$7.00 in a report on Tuesday, April 16th. GMP Securities reaffirmed a buy rating and set a $17.50 price objective on shares of Cenovus Energy in a report on Thursday, April 25th. Finally, ValuEngine lowered shares of China Southern Airlines from a hold rating to a sell rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Cenovus Energy currently has a consensus rating of Hold and a consensus price target of $13.41.
NYSE CVE opened at $9.51 on Thursday. The business’s 50 day moving average price is $8.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.10 and a quick ratio of 0.65. Cenovus Energy has a 1-year low of $6.15 and a 1-year high of $10.65.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.08). The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.75 billion. Cenovus Energy had a negative return on equity of 11.69% and a negative net margin of 8.68%. During the same period in the previous year, the business posted ($0.74) EPS. Equities analysts predict that Cenovus Energy will post 0.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.0373 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, June 13th. Cenovus Energy’s dividend payout ratio is currently -8.62%.
Several institutional investors have recently modified their holdings of CVE. Marshall Wace LLP acquired a new stake in shares of Cenovus Energy in the first quarter valued at approximately $25,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of Cenovus Energy in the first quarter valued at approximately $26,000. Quadrant Capital Group LLC increased its holdings in shares of Cenovus Energy by 164.9% in the first quarter. Quadrant Capital Group LLC now owns 14,996 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 9,334 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cenovus Energy by 8.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,989 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Cenovus Energy in the first quarter valued at approximately $188,000. 76.09% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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