BidaskClub lowered shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) from a sell rating to a strong sell rating in a report issued on Thursday.
A number of other equities analysts have also recently weighed in on the company. Credit Suisse Group reissued an outperform rating on shares of Cenovus Energy in a research note on Friday, May 26th. TD Securities raised Cenovus Energy from a hold rating to a buy rating in a research note on Friday, March 24th. Canaccord Genuity reissued a hold rating and issued a $16.50 price target on shares of Cenovus Energy in a research note on Wednesday, April 26th. Zacks Investment Research cut Cenovus Energy from a buy rating to a hold rating in a research note on Monday, May 1st. Finally, ValuEngine cut Cenovus Energy from a hold rating to a sell rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $18.95.
Cenovus Energy (NYSE CVE) traded up 1.397% during midday trading on Thursday, hitting $6.895. 2,795,560 shares of the company’s stock traded hands. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $16.82. The company has a 50 day moving average of $8.99 and a 200-day moving average of $12.18. The company’s market capitalization is $5.75 billion.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.06. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Cenovus Energy had a positive return on equity of 0.03% and a negative net margin of 1.64%. During the same period in the prior year, the business posted ($0.51) EPS. Equities research analysts predict that Cenovus Energy will post $0.25 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.0371 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.15 annualized dividend and a dividend yield of 2.18%. Cenovus Energy’s payout ratio is -71.43%.
Several large investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Cenovus Energy by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,667 shares of the oil and gas company’s stock valued at $540,000 after buying an additional 134 shares during the period. WFG Advisors LP raised its stake in Cenovus Energy by 101.4% in the fourth quarter. WFG Advisors LP now owns 1,017 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 512 shares during the period. World Asset Management Inc raised its stake in Cenovus Energy by 1.4% in the first quarter. World Asset Management Inc now owns 51,918 shares of the oil and gas company’s stock valued at $587,000 after buying an additional 695 shares during the period. Highstreet Asset Management Inc. raised its stake in Cenovus Energy by 2.3% in the first quarter. Highstreet Asset Management Inc. now owns 35,282 shares of the oil and gas company’s stock valued at $399,000 after buying an additional 782 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in Cenovus Energy by 7.4% in the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 900 shares during the period. 84.01% of the stock is owned by institutional investors and hedge funds.
About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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