Canaccord Genuity reaffirmed their buy rating on shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in a research report released on Thursday morning. Canaccord Genuity currently has a $15.50 target price on the oil and gas company’s stock.

Several other research firms have also commented on CVE. BidaskClub lowered Cenovus Energy from a sell rating to a strong sell rating in a report on Thursday, June 22nd. UBS AG lowered Cenovus Energy from a market perform rating to an underperform rating in a report on Wednesday, July 5th. Raymond James Financial, Inc. lowered Cenovus Energy from a market perform rating to an underperform rating in a report on Wednesday, July 5th. ValuEngine raised Cenovus Energy from a sell rating to a hold rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered Cenovus Energy from a hold rating to a sell rating in a report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Cenovus Energy has a consensus rating of Hold and an average price target of $16.06.

Cenovus Energy (CVE) traded down 1.00% during mid-day trading on Thursday, hitting $9.91. The stock had a trading volume of 3,433,172 shares. The stock has a market cap of $12.18 billion, a P/E ratio of 4.04 and a beta of 0.60. Cenovus Energy has a 52-week low of $6.76 and a 52-week high of $16.82. The firm has a 50-day moving average of $9.49 and a 200-day moving average of $8.82.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results 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 for the quarter, compared to analyst estimates of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same quarter in the prior year, the company posted ($0.05) earnings per share. On average, analysts forecast that Cenovus Energy will post $0.50 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.watchlistnews.com/canaccord-genuity-reaffirms-buy-rating-for-cenovus-energy-inc-cve/1647896.html.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.039 dividend. This represents a $0.16 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, September 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is currently 8.89%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Allegis Investment Advisors LLC boosted its stake in shares of Cenovus Energy by 16.9% during the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock worth $103,000 after buying an additional 2,016 shares during the period. Cigna Investments Inc. New acquired a new stake in shares of Cenovus Energy during the second quarter worth about $110,000. FNY Partners Fund LP acquired a new stake in shares of Cenovus Energy during the first quarter worth about $113,000. First Commonwealth Financial Corp PA acquired a new stake in shares of Cenovus Energy during the second quarter worth about $114,000. Finally, Sciencast Management LP acquired a new stake in shares of Cenovus Energy during the second quarter worth about $124,000. Institutional investors and hedge funds own 56.17% 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.