BidaskClub downgraded shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) from a sell rating to a strong sell rating in a report published on Thursday morning.

CVE has been the subject of several other reports. Zacks Investment Research downgraded shares of Cenovus Energy from a buy rating to a hold rating in a research note on Monday, May 1st. Canaccord Genuity reaffirmed a hold rating and set a $16.50 price objective on shares of Cenovus Energy in a research note on Wednesday, April 26th. Macquarie raised shares of Cenovus Energy from an underperform rating to a neutral rating in a research note on Thursday, March 30th. ValuEngine downgraded shares of Cenovus Energy from a hold rating to a sell rating in a research note on Friday, June 2nd. Finally, Barclays PLC reaffirmed an overweight rating and set a $22.00 price objective (up from $15.00) on shares of Cenovus Energy in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and an average price target of $17.34.

Shares of Cenovus Energy (NYSE:CVE) opened at 8.49 on Thursday. The firm has a market capitalization of $10.43 billion, a P/E ratio of 3.59 and a beta of 0.55. Cenovus Energy has a one year low of $6.76 and a one year high of $16.82. The firm’s 50-day moving average price is $7.54 and its 200-day moving average price is $10.68.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.03 by $0.24. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. During the same period in the prior year, the firm posted ($0.05) earnings per share. On average, equities analysts forecast that Cenovus Energy will post $0.12 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.watchlistnews.com/bidaskclub-lowers-cenovus-energy-inc-nysecve-to-strong-sell/1463710.html.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.039 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 1.83%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s payout ratio is currently 8.33%.

A number of large investors have recently made changes to their positions in CVE. Gateway Investment Advisers LLC boosted its stake in shares of Cenovus Energy by 0.5% in the second quarter. Gateway Investment Advisers LLC now owns 75,312 shares of the oil and gas company’s stock worth $555,000 after buying an additional 376 shares during the period. World Asset Management Inc boosted its stake in shares of Cenovus Energy by 1.4% in the first quarter. World Asset Management Inc now owns 51,918 shares of the oil and gas company’s stock worth $587,000 after buying an additional 695 shares during the period. Highstreet Asset Management Inc. boosted its stake in shares of Cenovus Energy by 2.3% in the first quarter. Highstreet Asset Management Inc. now owns 35,282 shares of the oil and gas company’s stock worth $399,000 after buying an additional 782 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Cenovus Energy by 7.4% in the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock worth $147,000 after buying an additional 900 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in shares of Cenovus Energy by 1.6% in the second quarter. Capstone Asset Management Co. now owns 87,709 shares of the oil and gas company’s stock worth $646,000 after buying an additional 1,350 shares during the period. Institutional investors and hedge funds own 56.04% of the company’s stock.

Cenovus Energy Company Profile

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

Receive News & Ratings for Cenovus Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.