Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has been assigned an average recommendation of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.83.
CVE has been the topic of several recent research reports. ValuEngine downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, April 29th. 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. CIBC raised shares of Cenovus Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, July 18th. Finally, Goldman Sachs Group raised shares of Cenovus Energy from a “sell” rating to a “neutral” rating and set a $11.00 price objective on the stock in a report on Tuesday, April 16th.
NYSE CVE traded up $0.05 during trading on Tuesday, hitting $8.54. 1,876,109 shares of the company’s stock traded hands, compared to its average volume of 3,776,118. The stock has a market capitalization of $10.43 billion, a PE ratio of -4.91, a price-to-earnings-growth ratio of 2.64 and a beta of 0.97. Cenovus Energy has a 12-month low of $6.15 and a 12-month high of $10.65. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $9.05.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.07). The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.38 billion. Cenovus Energy had a net margin of 1.25% and a negative return on equity of 8.70%. During the same period last year, the company earned ($0.24) earnings per share. On average, research analysts expect that Cenovus Energy will post 0.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 12th. Cenovus Energy’s dividend payout ratio is presently -8.62%.
Several institutional investors have recently made changes to their positions in CVE. Marshall Wace LLP purchased a new stake in Cenovus Energy in the first quarter valued at approximately $25,000. SeaBridge Investment Advisors LLC purchased a new stake in Cenovus Energy in the first quarter valued at approximately $26,000. K.J. Harrison & Partners Inc purchased a new stake in Cenovus Energy in the second quarter valued at approximately $108,000. Picton Mahoney Asset Management purchased a new stake in Cenovus Energy in the second quarter valued at approximately $123,000. Finally, Quadrant Capital Group LLC raised its stake in 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. 76.11% of the stock is currently owned by hedge funds and other institutional investors.
About Cenovus Energy
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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