Cenovus Energy Inc. (NYSE:CVE)’s share price dropped 3.6% during trading on Wednesday . The company traded as low as $14.33 and last traded at $14.34, with a volume of 951,949 shares traded. The stock had previously closed at $14.87.

CVE has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, August 2nd. TD Securities restated a “buy” rating and issued a $21.00 price objective on shares of Cenovus Energy in a research note on Sunday, July 31st. Credit Suisse Group AG restated a “buy” rating and issued a $22.00 price objective on shares of Cenovus Energy in a research note on Friday, July 29th. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Cenovus Energy in a research note on Wednesday, June 8th. Finally, Bank of America Corp. started coverage on shares of Cenovus Energy in a research note on Friday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.21.

The stock has a market capitalization of $12.43 billion and a PE ratio of 20.64. The stock has a 50-day moving average of $14.54 and a 200-day moving average of $13.94.

Cenovus Energy (NYSE:CVE) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. During the same quarter last year, the business earned $0.18 EPS. Equities analysts predict that Cenovus Energy Inc. will post ($0.58) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.0378 per share. This represents a $0.15 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, September 13th.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.