Cenovus Energy Inc (NYSE:CVE) (TSE:CVE)’s share price traded up 8.6% on Thursday . The stock traded as high as $10.05 and last traded at $10.05. 5,717,600 shares traded hands during trading, an increase of 44% from the average session volume of 3,981,000 shares. The stock had previously closed at $9.25.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Cenovus Energy from a “neutral” rating to an “overweight” rating in a report on Monday, September 10th. Macquarie raised Cenovus Energy from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 1st. Canaccord Genuity cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. National Bank Financial raised Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Thursday, May 31st. Finally, Goldman Sachs Group cut Cenovus Energy from a “neutral” rating to a “sell” rating in a report on Friday, September 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.08.

The firm has a market cap of $11.51 billion, a price-to-earnings ratio of -491.00 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.17 and a quick ratio of 0.81.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.21). The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.25 billion. Cenovus Energy had a negative net margin of 2.56% and a negative return on equity of 6.66%. During the same period in the previous year, the company earned $0.36 earnings per share. equities analysts anticipate that Cenovus Energy Inc will post -0.34 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.038 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.15 dividend on an annualized basis and a yield of 1.51%. Cenovus Energy’s dividend payout ratio is currently -750.00%.

A number of institutional investors have recently made changes to their positions in CVE. Aperio Group LLC raised its holdings in Cenovus Energy by 63.9% in the 1st quarter. Aperio Group LLC now owns 220,727 shares of the oil and gas company’s stock worth $1,885,000 after purchasing an additional 86,030 shares during the period. Neuberger Berman Group LLC raised its holdings in Cenovus Energy by 46.3% in the 1st quarter. Neuberger Berman Group LLC now owns 96,510 shares of the oil and gas company’s stock worth $822,000 after purchasing an additional 30,531 shares during the period. Franklin Resources Inc. raised its holdings in Cenovus Energy by 1.1% in the 1st quarter. Franklin Resources Inc. now owns 10,803,976 shares of the oil and gas company’s stock worth $91,919,000 after purchasing an additional 117,030 shares during the period. Dimensional Fund Advisors LP raised its holdings in Cenovus Energy by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,601,884 shares of the oil and gas company’s stock worth $39,300,000 after purchasing an additional 29,547 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Cenovus Energy by 2.3% in the 1st quarter. Schroder Investment Management Group now owns 6,067,189 shares of the oil and gas company’s stock worth $65,261,000 after purchasing an additional 137,405 shares during the period. 74.56% of the stock is currently owned by institutional investors.

About Cenovus Energy (NYSE:CVE)

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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