Cenovus Energy Inc. (CVE) Sees Large Volume Increase
Cenovus Energy Inc. (NYSE:CVE) shares saw strong trading volume on Friday . 1,489,372 shares traded hands during mid-day trading, a decline of 16% from the previous session’s volume of 1,770,953 shares.The stock last traded at $13.87 and had previously closed at $13.29.
Several analysts recently commented on the company. Zacks Investment Research lowered Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. Royal Bank Of Canada boosted their price target on Cenovus Energy from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, April 28th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, April 27th. National Bank Financial reaffirmed an “outperform” rating and issued a $22.00 price target (up previously from $19.00) on shares of Cenovus Energy in a research note on Sunday, May 1st. Finally, TD Securities reaffirmed a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Cenovus Energy in a research note on Sunday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.50.
The company’s 50 day moving average price is $14.56 and its 200-day moving average price is $13.23. The company has a market capitalization of $11.55 billion and a price-to-earnings ratio of 12.76.
Cenovus Energy (NYSE:CVE) last posted its quarterly earnings data on Wednesday, April 27th. The company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.14. During the same period in the previous year, the company posted ($0.11) earnings per share. Analysts expect that Cenovus Energy Inc. will post ($1.05) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were paid a $0.0395 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date was Monday, June 13th. This represents a $0.16 annualized dividend and a dividend yield of 1.14%.
Several institutional investors have modified their holdings of CVE. Korea Investment CORP raised its position in shares of Cenovus Energy by 2.2% in the fourth quarter. Korea Investment CORP now owns 198,800 shares of the company’s stock valued at $2,504,000 after buying an additional 4,300 shares during the last quarter. Comerica Bank raised its position in shares of Cenovus Energy by 11.4% in the fourth quarter. Comerica Bank now owns 92,626 shares of the company’s stock valued at $1,080,000 after buying an additional 9,447 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Cenovus Energy during the fourth quarter valued at about $1,074,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Cenovus Energy by 18.7% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,149,154 shares of the company’s stock valued at $37,610,000 after buying an additional 338,100 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of Cenovus Energy by 4.1% in the fourth quarter. Pzena Investment Management LLC now owns 4,097,423 shares of the company’s stock valued at $51,709,000 after buying an additional 160,078 shares during the last quarter.
Cenovus Energy Inc (Cenovus) is an integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas in Canada with marketing activities and refining operations in the United States. The Company’s segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.
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