Cenovus Energy Inc. (NYSE:CVE) Given Consensus Rating of “Moderate Buy” by Analysts

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $30.00.

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a research note on Monday, January 6th. BMO Capital Markets reduced their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in Cenovus Energy during the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its stake in shares of Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 851 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,651 shares during the period. Sierra Ocean LLC purchased a new stake in Cenovus Energy during the 4th quarter valued at $67,000. Finally, Natixis purchased a new stake in Cenovus Energy during the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

NYSE CVE opened at $15.31 on Friday. The stock has a market capitalization of $27.92 billion, a price-to-earnings ratio of 10.56 and a beta of 1.99. Cenovus Energy has a 1-year low of $13.76 and a 1-year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The business’s fifty day moving average price is $15.00 and its 200-day moving average price is $16.32.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. On average, equities analysts predict that Cenovus Energy will post 1.36 earnings per share for the current year.

About Cenovus Energy

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.