Cenovus Energy (NYSE:CVE) (TSE:CVE) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities research analysts also recently weighed in on CVE. Morgan Stanley reduced their price objective on shares of Cenovus Energy from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, November 20th. Canaccord Genuity set a $13.00 price objective on shares of Cenovus Energy and gave the stock a “hold” rating in a report on Tuesday, November 20th. CIBC reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Thursday, November 22nd. Tudor Pickering raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Monday, December 10th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Cenovus Energy presently has an average rating of “Hold” and an average target price of $12.54.

Shares of CVE opened at $8.77 on Friday. Cenovus Energy has a 1 year low of $6.15 and a 1 year high of $11.47. The firm has a market cap of $10.78 billion, a PE ratio of -5.04, a PEG ratio of 4.05 and a beta of 0.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 0.84.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, February 13th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.78 billion. Cenovus Energy had a negative return on equity of 15.71% and a negative net margin of 12.41%. During the same period in the previous year, the company earned ($0.42) EPS. On average, analysts anticipate that Cenovus Energy will post 0.36 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of CVE. Virginia Retirement Systems ET AL raised its position in Cenovus Energy by 33.8% in the third quarter. Virginia Retirement Systems ET AL now owns 117,600 shares of the oil and gas company’s stock worth $1,180,000 after acquiring an additional 29,700 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in Cenovus Energy in the third quarter worth about $256,000. JPMorgan Chase & Co. raised its position in Cenovus Energy by 246.6% in the third quarter. JPMorgan Chase & Co. now owns 1,461,220 shares of the oil and gas company’s stock worth $14,656,000 after acquiring an additional 1,039,576 shares in the last quarter. AGF Investments Inc. bought a new stake in Cenovus Energy in the third quarter worth about $1,334,000. Finally, Commonwealth Bank of Australia raised its position in Cenovus Energy by 32.8% in the third quarter. Commonwealth Bank of Australia now owns 280,557 shares of the oil and gas company’s stock worth $2,813,000 after acquiring an additional 69,302 shares in the last quarter. Hedge funds and other institutional investors own 77.22% 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 and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as 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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