Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has earned an average recommendation of “Buy” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $14.31.
Several equities analysts have recently weighed in on CVE shares. Morgan Stanley started coverage on Cenovus Energy in a report on Thursday, October 7th. They set an “overweight” rating and a $18.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Cenovus Energy from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Tuesday, September 28th. Zacks Investment Research cut Cenovus Energy from a “hold” rating to a “strong sell” rating and set a $8.50 target price on the stock. in a research note on Wednesday, September 29th. Scotiabank boosted their target price on Cenovus Energy from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Thursday, July 15th. Finally, BMO Capital Markets restated a “buy” rating on shares of Cenovus Energy in a research note on Monday, September 27th.
NYSE:CVE opened at $11.26 on Thursday. Cenovus Energy has a fifty-two week low of $3.15 and a fifty-two week high of $11.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.20 and a quick ratio of 0.71. The stock has a market capitalization of $22.72 billion, a PE ratio of -225.20 and a beta of 3.20. The business’s 50-day simple moving average is $8.98 and its 200-day simple moving average is $8.64.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th were paid a dividend of $0.0139 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 14th. Cenovus Energy’s dividend payout ratio is currently -3.77%.
Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in shares of Cenovus Energy during the 1st quarter worth approximately $25,000. Cardinal Capital Management Inc. increased its holdings in shares of Cenovus Energy by 213.3% during the 3rd quarter. Cardinal Capital Management Inc. now owns 2,644 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,800 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Cenovus Energy during the 1st quarter worth approximately $43,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cenovus Energy during the 2nd quarter worth approximately $96,000. Finally, Corient Capital Partners LLC acquired a new position in shares of Cenovus Energy during the 2nd quarter worth approximately $103,000. Institutional investors own 49.30% of the company’s stock.
About Cenovus Energy
Cenovus Energy, Inc engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations.
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