Cenovus Energy Inc. (NYSE:CVE)’s share price traded down 4.1% during trading on Monday . The stock traded as low as $13.69 and last traded at $13.71, with a volume of 559,110 shares. The stock had previously closed at $14.30.

Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Tuesday. TD Securities restated a “buy” rating and set a $21.00 price target on shares of Cenovus Energy in a research report on Sunday. Scotiabank restated an “outperform” rating and set a $20.00 price target on shares of Cenovus Energy in a research report on Sunday. Credit Suisse Group AG restated a “buy” rating and set a $22.00 price target on shares of Cenovus Energy in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cenovus Energy from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Cenovus Energy currently has an average rating of “Buy” and an average target price of $20.29.

The stock has a market capitalization of $11.62 billion and a P/E ratio of 19.80. The company’s 50 day moving average price is $13.97 and its 200-day moving average price is $13.46.

Cenovus Energy (NYSE:CVE) last announced its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. During the same period last year, the business earned $0.18 earnings per share. On average, equities research analysts predict that Cenovus Energy Inc. will post ($0.66) EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.0378 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.10%.

Several hedge funds have made changes to their positions in CVE. Trexquant Investment LP acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $1,054,000. 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. Gulf International Bank UK Ltd raised its stake in shares of Cenovus Energy by 0.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 256,704 shares of the company’s stock worth $3,249,000 after buying an additional 1,600 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Cenovus Energy by 52.9% in the fourth quarter. State of Wisconsin Investment Board now owns 650,308 shares of the company’s stock worth $8,193,000 after buying an additional 225,100 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Cenovus Energy by 11.4% in the fourth quarter. Comerica Bank now owns 92,626 shares of the company’s stock worth $1,080,000 after buying an additional 9,447 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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