Cenovus Energy Inc. (CVE) Stock Price Down 3%
Shares of Cenovus Energy Inc. (NYSE:CVE) were down 3% during trading on Thursday . The company traded as low as $13.23 and last traded at $13.27, with a volume of 1,159,295 shares trading hands. The stock had previously closed at $13.68.
A number of analysts have recently commented on CVE shares. Goldman Sachs Group Inc. raised Cenovus Energy from a “buy” rating to a “conviction-buy” rating and set a $16.00 price target on the stock in a research note on Friday, March 11th. Zacks Investment Research lowered Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Monday, March 28th. Morgan Stanley raised Cenovus Energy from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 13th. Barclays PLC restated an “underweight” rating and set a $20.00 price objective (up from $19.00) on shares of Cenovus Energy in a research report on Sunday, May 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Cenovus Energy in a research report on Tuesday, June 21st. 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 company’s stock. Cenovus Energy currently has a consensus rating of “Hold” and a consensus target price of $20.50.
The company’s 50 day moving average is $14.54 and its 200-day moving average is $13.24. The stock has a market capitalization of $11.55 billion and a PE ratio of 12.86.
Cenovus Energy (NYSE:CVE) last issued its earnings results 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 in the prior year, the firm posted ($0.11) earnings per share. Analysts expect that Cenovus Energy Inc. will post ($1.05) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a dividend of $0.0395 per share. This represents a $0.16 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, June 13th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04.
Other large investors recently modified their holdings of the company. Morgan Stanley boosted 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 valued at $16,500,000 after buying an additional 755,315 shares in the last quarter. Caymus Capital Partners L.P. boosted 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 valued at $22,320,000 after buying an additional 465,600 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted 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 valued at $37,610,000 after buying an additional 338,100 shares in the last quarter. State of Wisconsin Investment Board boosted 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 valued at $8,193,000 after buying an additional 225,100 shares in the last quarter. Finally, Pzena Investment Management LLC boosted 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 valued at $51,709,000 after buying an additional 160,078 shares in 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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