Cenovus Energy (NYSE:CVE) Stock Rating Lowered by National Bank Financial

Cenovus Energy (NYSE:CVE) (TSE:CVE) was downgraded by equities researchers at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Friday, MarketBeat reports.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. BMO Capital Markets reduced their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Price Performance

Shares of CVE stock opened at $14.61 on Friday. Cenovus Energy has a 12-month low of $13.76 and a 12-month high of $21.90. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 12.07 and a beta of 1.99. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average of $14.99 and a 200-day moving average of $16.29.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. On average, equities research analysts forecast that Cenovus Energy will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Cenovus Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVE. Truvestments Capital LLC bought a new stake in Cenovus Energy during the 3rd quarter worth about $25,000. Farther Finance Advisors LLC lifted its position in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after buying an additional 851 shares in the last quarter. Blue Trust Inc. lifted its position in Cenovus Energy by 640.3% during the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after buying an additional 2,651 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Cenovus Energy in the 4th quarter valued at about $67,000. Finally, Natixis bought a new stake in shares of Cenovus Energy in the 4th quarter valued at about $98,000. 51.19% of the stock is owned by institutional investors.

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.