Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has received a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.70.
A number of equities analysts have commented on the company. ValuEngine downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Zacks Investment Research downgraded Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. AltaCorp Capital downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Monday, January 7th. Canaccord Genuity set a $13.00 target price on Cenovus Energy and gave the company a “hold” rating in a research note on Tuesday, November 20th. Finally, Morgan Stanley decreased their target price on Cenovus Energy from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 20th.
Cenovus Energy stock traded down $0.05 during midday trading on Friday, hitting $8.80. The stock had a trading volume of 4,808,000 shares, compared to its average volume of 4,406,105. The company has a quick ratio of 0.84, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Cenovus Energy has a 12 month low of $6.15 and a 12 month high of $11.47. The firm has a market cap of $10.78 billion, a P/E ratio of -5.06, a P/E/G ratio of 4.05 and a beta of 0.79.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Wednesday, February 13th. The oil and gas company reported ($1.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.87). Cenovus Energy had a negative net margin of 12.41% and a negative return on equity of 15.71%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. As a group, equities research analysts anticipate that Cenovus Energy will post 0.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.0377 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.15 annualized dividend and a dividend yield of 1.71%. Cenovus Energy’s dividend payout ratio is presently -8.62%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Cenovus Energy by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 855,309 shares of the oil and gas company’s stock worth $5,968,000 after buying an additional 95,602 shares during the period. Norges Bank acquired a new position in shares of Cenovus Energy during the fourth quarter worth approximately $58,839,000. Millennium Management LLC acquired a new position in shares of Cenovus Energy during the fourth quarter worth approximately $2,428,000. Legal & General Group Plc boosted its position in shares of Cenovus Energy by 1.2% during the fourth quarter. Legal & General Group Plc now owns 4,003,529 shares of the oil and gas company’s stock worth $28,139,000 after buying an additional 47,708 shares during the period. Finally, Callodine Capital Management LP acquired a new position in shares of Cenovus Energy during the fourth quarter worth approximately $1,011,000. Institutional investors and hedge funds own 77.22% of the company’s stock.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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