Cenovus Energy Inc. (NYSE:CVE) Given Average Recommendation of “Moderate Buy” by Brokerages

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $30.00.

Several brokerages have recently commented on CVE. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a report on Monday, January 6th. Finally, BMO Capital Markets reduced their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Institutional Investors Weigh In On Cenovus Energy

A number of institutional investors have recently added to or reduced their stakes in CVE. Truvestments Capital LLC bought a new position in Cenovus Energy in the third quarter worth about $25,000. Farther Finance Advisors LLC boosted its holdings in shares of Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 851 shares in the last quarter. Blue Trust Inc. grew its position in shares of Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after buying an additional 2,651 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Cenovus Energy during the 4th quarter worth approximately $67,000. Finally, Natixis purchased a new stake in Cenovus Energy during the fourth quarter valued at approximately $98,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of CVE stock opened at $15.31 on Friday. The company’s 50-day simple moving average is $15.00 and its two-hundred day simple moving average is $16.32. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. Cenovus Energy has a one year low of $13.76 and a one year high of $21.90. The company has a market capitalization of $27.92 billion, a P/E ratio of 10.56 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. As a group, equities analysts anticipate that Cenovus Energy will post 1.36 EPS for the current year.

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.