Cenovus Energy Inc (CVE) Receives Consensus Rating of “Hold” from Analysts
Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has been given a consensus rating of “Hold” by the nineteen ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.60.
Several equities analysts have issued reports on the company. UBS AG lowered Cenovus Energy from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Cenovus Energy from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Tuesday, July 25th. BidaskClub downgraded Cenovus Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $8.00 price objective on shares of Cenovus Energy in a report on Thursday, June 22nd. Finally, Raymond James Financial, Inc. downgraded Cenovus Energy from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th.
Cenovus Energy (NYSE CVE) opened at 7.98 on Friday. The company has a market capitalization of $9.81 billion, a PE ratio of 3.36 and a beta of 0.57. The stock’s 50 day moving average is $7.62 and its 200 day moving average is $10.29. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $16.82.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. Analysts predict that Cenovus Energy will post $0.37 EPS for the current fiscal year.
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 issued 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 yield of 1.95%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is 8.33%.
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Large investors have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. increased its stake in shares of Cenovus Energy by 37.1% in the second quarter. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company’s stock valued at $199,920,000 after buying an additional 7,354,590 shares during the period. CNA Financial Corp increased its stake in shares of Cenovus Energy by 19.6% in the second quarter. CNA Financial Corp now owns 205,929 shares of the oil and gas company’s stock valued at $1,519,000 after buying an additional 33,721 shares during the period. Capital Fund Management S.A. increased its stake in shares of Cenovus Energy by 80.2% in the second quarter. Capital Fund Management S.A. now owns 933,736 shares of the oil and gas company’s stock valued at $6,882,000 after buying an additional 415,456 shares during the period. Schroder Investment Management Group increased its stake in shares of Cenovus Energy by 162.2% in the second quarter. Schroder Investment Management Group now owns 2,632,839 shares of the oil and gas company’s stock valued at $23,236,000 after buying an additional 1,628,716 shares during the period. Finally, Intact Investment Management Inc. increased its stake in shares of Cenovus Energy by 0.4% in the second quarter. Intact Investment Management Inc. now owns 151,950 shares of the oil and gas company’s stock valued at $1,446,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 55.90% of the company’s stock.
Cenovus Energy Company Profile
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