Cenovus Energy Inc (NYSE:CVE) Receives $25.67 Average Target Price from Analysts

by · The Cerbat Gem

Cenovus Energy Inc (NYSE:CVE – Get Free Report) (TSE:CVE) has received an average rating of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.6667.

Several research analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Cenovus Energy in a research report on Thursday, October 30th. Wall Street Zen upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. National Bank Financial upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research note on Thursday, November 20th. Finally, Zacks Research raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th.

Read Our Latest Report on CVE

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $17.66 on Friday. The stock has a market cap of $33.37 billion, a price-to-earnings ratio of 14.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.18 and a current ratio of 1.73. The stock has a 50 day moving average price of $17.53 and a 200-day moving average price of $16.07. Cenovus Energy has a one year low of $10.23 and a one year high of $18.75.

Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.The company had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same period last year, the company earned $0.42 earnings per share. Cenovus Energy’s revenue was down 7.0% on a year-over-year basis. Equities analysts expect that Cenovus Energy will post 1.49 EPS for the current year.

Cenovus Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.80 annualized dividend and a yield of 4.5%. Cenovus Energy’s dividend payout ratio is 46.72%.

Institutional Investors Weigh In On Cenovus Energy

Several hedge funds have recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in Cenovus Energy by 291.3% in the third quarter. Capital Research Global Investors now owns 106,582,971 shares of the oil and gas company’s stock valued at $1,809,758,000 after acquiring an additional 79,345,506 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cenovus Energy by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 56,327,634 shares of the oil and gas company’s stock worth $956,387,000 after purchasing an additional 354,241 shares in the last quarter. Mackenzie Financial Corp grew its stake in Cenovus Energy by 46.7% during the 3rd quarter. Mackenzie Financial Corp now owns 30,643,806 shares of the oil and gas company’s stock worth $520,196,000 after buying an additional 9,753,134 shares during the last quarter. Boston Partners boosted its stake in Cenovus Energy by 2.3% in the 2nd quarter. Boston Partners now owns 26,845,367 shares of the oil and gas company’s stock worth $365,097,000 after purchasing an additional 606,042 shares in the last quarter. Finally, Smead Capital Management Inc. grew its position in Cenovus Energy by 13.3% during the 2nd quarter. Smead Capital Management Inc. now owns 17,552,075 shares of the oil and gas company’s stock worth $238,999,000 after purchasing an additional 2,056,163 shares during the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Company Profile

(Get Free Report)

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.

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