Cenovus Energy Inc. (NYSE:CVE) Receives $26.67 Average PT from Analysts

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) have received an average rating of “Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $26.67.

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

Institutional Investors Weigh In On Cenovus Energy

A number of institutional investors have recently bought and sold shares of CVE. Capital International Investors boosted its position in Cenovus Energy by 1,779.0% during the 4th quarter. Capital International Investors now owns 10,725,418 shares of the oil and gas company’s stock worth $178,723,000 after acquiring an additional 10,154,618 shares during the period. TD Asset Management Inc boosted its position in Cenovus Energy by 26.5% during the 4th quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock worth $706,503,000 after acquiring an additional 8,841,374 shares during the period. Capital World Investors boosted its position in Cenovus Energy by 5.4% during the 4th quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock worth $2,508,185,000 after acquiring an additional 7,750,480 shares during the period. Balyasny Asset Management L.P. boosted its position in Cenovus Energy by 1,224.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,097,451 shares of the oil and gas company’s stock worth $68,231,000 after acquiring an additional 3,787,979 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Cenovus Energy by 9,511.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,303,904 shares of the oil and gas company’s stock worth $55,013,000 after acquiring an additional 3,269,531 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Price Performance

Shares of CVE opened at $21.23 on Monday. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 13.44 and a beta of 2.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56. Cenovus Energy has a one year low of $14.69 and a one year high of $21.90. The stock’s fifty day moving average is $19.16 and its 200-day moving average is $18.02.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share 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 during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter last year, the business posted $0.29 earnings per share. Equities analysts anticipate that Cenovus Energy will post 1.88 EPS for the current year.

Cenovus Energy Increases Dividend

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

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.