Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) has been assigned an average recommendation of “Buy” from the nineteen brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $23.32.
Several brokerages recently issued reports on CVE. National Bank Financial lifted their target price on Cenovus Energy from C$28.00 to C$35.00 in a research report on Thursday, April 14th. Scotiabank lifted their target price on Cenovus Energy from C$24.00 to C$25.00 in a research report on Monday, April 18th. Cormark cut their target price on Cenovus Energy from $32.00 to $26.00 in a research report on Monday, May 16th. StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. Finally, Royal Bank of Canada lifted their target price on Cenovus Energy from C$27.00 to C$28.00 in a research report on Thursday, April 28th.
Shares of CVE stock opened at $22.05 on Friday. The company has a market cap of $43.35 billion, a P/E ratio of 29.01 and a beta of 2.49. The stock has a 50 day simple moving average of $18.32 and a two-hundred day simple moving average of $15.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.09 and a current ratio of 1.60. Cenovus Energy has a fifty-two week low of $7.20 and a fifty-two week high of $22.20.
Cenovus Energy (NYSE:CVE – Get Rating) (TSE:CVE) last issued its earnings results on Wednesday, April 27th. The oil and gas company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.21). The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $10.69 billion. Cenovus Energy had a return on equity of 14.73% and a net margin of 3.56%. On average, research analysts predict that Cenovus Energy will post 2.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.084 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, June 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.03. Cenovus Energy’s dividend payout ratio is currently 14.47%.
Several hedge funds and other institutional investors have recently modified their holdings of CVE. Neuberger Berman Group LLC raised its stake in shares of Cenovus Energy by 39.6% during the 1st quarter. Neuberger Berman Group LLC now owns 162,410 shares of the oil and gas company’s stock valued at $2,717,000 after purchasing an additional 46,095 shares during the period. Capital World Investors raised its stake in shares of Cenovus Energy by 30.0% during the 1st quarter. Capital World Investors now owns 28,481,746 shares of the oil and gas company’s stock valued at $474,791,000 after purchasing an additional 6,570,038 shares during the period. BNP Paribas Arbitrage SA bought a new stake in shares of Cenovus Energy during the 1st quarter valued at $3,501,000. Walleye Capital LLC bought a new stake in shares of Cenovus Energy during the 1st quarter valued at $8,769,000. Finally, Yaupon Capital Management LP bought a new stake in shares of Cenovus Energy during the 1st quarter valued at $4,912,000. 48.02% of the stock is currently owned by hedge funds and other institutional investors.
About Cenovus Energy (Get Rating)
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.
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