Cenovus Energy Inc. (NYSE:CVE) Receives $26.67 Consensus Price Target from Brokerages

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) have been assigned a consensus recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $26.67.

Several equities analysts recently commented on CVE shares. Morgan Stanley upped their price objective on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada restated an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a research report on Friday, January 26th. Finally, UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd.

Cenovus Energy Stock Performance

CVE stock opened at $21.23 on Monday. The firm has a market cap of $39.60 billion, a PE ratio of 13.44 and a beta of 2.15. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $19.16 and a 200-day moving average of $18.02. Cenovus Energy has a 12-month low of $14.69 and a 12-month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. The business had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. As a group, sell-side analysts expect that Cenovus Energy will post 1.88 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.1033 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, March 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s dividend payout ratio (DPR) is 25.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its stake in Cenovus Energy by 19.2% in the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock valued at $69,000 after acquiring an additional 537 shares during the last quarter. Private Advisor Group LLC increased its stake in Cenovus Energy by 2.7% in the third quarter. Private Advisor Group LLC now owns 22,453 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 598 shares during the last quarter. Schechter Investment Advisors LLC increased its stake in Cenovus Energy by 1.6% in the third quarter. Schechter Investment Advisors LLC now owns 39,350 shares of the oil and gas company’s stock valued at $819,000 after acquiring an additional 611 shares during the last quarter. Lorne Steinberg Wealth Management Inc. increased its stake in Cenovus Energy by 1.1% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 57,715 shares of the oil and gas company’s stock valued at $1,205,000 after acquiring an additional 630 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Cenovus Energy by 80.3% in the first quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 647 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.