Cenovus Energy Inc. (NYSE:CVE) Receives $30.75 Consensus Target Price from Brokerages

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.75.

Several research analysts have recently weighed in on CVE shares. Scotiabank decreased their price target on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. BMO Capital Markets decreased their price target on Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, TD Securities cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st.

Cenovus Energy Stock Down 0.3 %

Shares of NYSE:CVE opened at $16.93 on Monday. The stock has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $19.19. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 9.41 and a beta of 2.04. Cenovus Energy has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The company had revenue of $10.88 billion for the quarter, compared to analysts’ expectations of $9.78 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. On average, research analysts anticipate that Cenovus Energy will post 1.84 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy’s dividend payout ratio is presently 29.44%.

Institutional Trading of Cenovus Energy

Several hedge funds have recently bought and sold shares of CVE. Banque Cantonale Vaudoise bought a new position in shares of Cenovus Energy in the first quarter worth about $30,000. Wolff Wiese Magana LLC boosted its stake in shares of Cenovus Energy by 71.4% in the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 1,000 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 1,417 shares during the period. Blue Trust Inc. boosted its stake in shares of Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,651 shares during the period. Finally, American National Bank purchased a new stake in shares of Cenovus Energy in the first quarter worth about $52,000. 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.