Cenovus Energy Inc. (NYSE:CVE) shares fell 3% during mid-day trading on Thursday . The stock traded as low as $13.23 and last traded at $13.27, with a volume of 1,159,295 shares traded. The stock had previously closed at $13.68.

Several brokerages recently issued reports on CVE. Zacks Investment Research upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Royal Bank Of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Cenovus Energy in a research report on Tuesday, June 21st. Morgan Stanley upgraded shares of Cenovus Energy from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 13th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Cenovus Energy in a research report on Wednesday, June 8th. Finally, TD Securities reiterated a “buy” rating and set a $22.00 price target (up previously from $21.00) on shares of Cenovus Energy in a research report on Sunday, May 1st. One 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 stock. The company has a consensus rating of “Hold” and an average price target of $20.50.

The stock has a 50 day moving average price of $14.56 and a 200-day moving average price of $13.23. The firm has a market capitalization of $11.07 billion and a price-to-earnings ratio of 12.28.

Cenovus Energy (NYSE:CVE) last released its quarterly earnings data on Wednesday, April 27th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.37) by $0.14. During the same quarter last year, the business earned ($0.11) earnings per share. Equities analysts anticipate that Cenovus Energy Inc. will post ($1.05) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a $0.0395 dividend. This represents a $0.16 annualized dividend and a yield of 1.19%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date was Monday, June 13th.

A number of hedge funds have added to or reduced their stakes in the stock. Letko Brosseau & Associates Inc. raised its stake in shares of Cenovus Energy by 0.5% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 12,689,882 shares of the company’s stock worth $160,457,000 after buying an additional 68,458 shares during the last quarter. Pzena Investment Management LLC raised its stake 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 worth $51,709,000 after buying an additional 160,078 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake 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 worth $37,610,000 after buying an additional 338,100 shares during the last quarter. Caymus Capital Partners L.P. raised its stake in shares of Cenovus Energy by 35.7% in the fourth quarter. Caymus Capital Partners L.P. now owns 1,768,600 shares of the company’s stock worth $22,320,000 after buying an additional 465,600 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Cenovus Energy by 136.8% in the fourth quarter. Morgan Stanley now owns 1,307,399 shares of the company’s stock worth $16,500,000 after buying an additional 755,315 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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