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

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $30.75.

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

Cenovus Energy Stock Down 0.3 %

CVE stock opened at $16.93 on Monday. The firm’s fifty day simple moving average is $17.72 and its 200-day simple moving average is $19.18. The company has a market capitalization of $31.48 billion, a P/E ratio of 9.41 and a beta of 2.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00. Cenovus Energy has a 12 month low of $14.69 and a 12 month high of $21.90.

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

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy’s dividend payout ratio is presently 29.44%.

Hedge Funds Weigh In On Cenovus Energy

A number of large investors have recently added to or reduced their stakes in CVE. Banque Cantonale Vaudoise acquired a new position in Cenovus Energy during the first quarter worth $30,000. Wolff Wiese Magana LLC raised its position in shares of Cenovus Energy by 71.4% in the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 1,417 shares during the last quarter. Blue Trust Inc. raised its position in shares of Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 2,651 shares during the last quarter. Finally, American National Bank acquired a new stake in shares of Cenovus Energy in the first quarter valued at about $52,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

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.