ValuEngine upgraded shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) from a hold rating to a buy rating in a research note issued to investors on Tuesday, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets restated an average rating and set a $13.50 target price on shares of Cenovus Energy in a report on Monday, January 7th. Royal Bank of Canada reiterated a buy rating and issued a $13.00 price objective on shares of Cenovus Energy in a report on Monday, January 7th. Morgan Stanley reiterated a hold rating on shares of Cenovus Energy in a report on Tuesday, January 29th. CIBC downgraded Cenovus Energy from a sector outperform rating to a neutral rating in a report on Thursday, January 31st. Finally, Goldman Sachs Group upgraded Cenovus Energy from a sell rating to a neutral rating and set a $11.00 price objective for the company in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Cenovus Energy has a consensus rating of Hold and an average price target of $13.41.

Shares of Cenovus Energy stock opened at $10.01 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a market cap of $12.83 billion, a P/E ratio of -5.75, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78. Cenovus Energy has a 52 week low of $6.15 and a 52 week high of $11.47.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.75 billion. Cenovus Energy had a negative net margin of 12.41% and a negative return on equity of 15.71%. During the same quarter in the prior year, the company earned ($0.74) EPS. On average, equities analysts predict that Cenovus Energy will post 0.4 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.0373 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.15 dividend on an annualized basis and a yield of 1.49%. Cenovus Energy’s dividend payout ratio (DPR) is -8.62%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Mn Services Vermogensbeheer B.V. bought a new position in Cenovus Energy in the fourth quarter worth $2,407,000. Nordea Investment Management AB purchased a new stake in shares of Cenovus Energy in the third quarter worth $696,000. Morgan Stanley grew its stake in shares of Cenovus Energy by 27.7% in the third quarter. Morgan Stanley now owns 3,197,584 shares of the oil and gas company’s stock worth $32,072,000 after acquiring an additional 694,453 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cenovus Energy by 2.6% in the third quarter. Vanguard Group Inc. now owns 28,111,158 shares of the oil and gas company’s stock worth $281,955,000 after acquiring an additional 711,769 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Cenovus Energy by 28.9% in the third quarter. Alliancebernstein L.P. now owns 147,564 shares of the oil and gas company’s stock worth $1,480,000 after acquiring an additional 33,114 shares during the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.

Cenovus Energy Company Profile

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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Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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