Cenovus Energy Inc. (CVE) Sees Large Volume Increase
Cenovus Energy Inc. (NYSE:CVE) shares saw strong trading volume on Thursday . 1,594,984 shares traded hands during mid-day trading, an increase of 25% from the previous session’s volume of 1,276,395 shares.The stock last traded at $14.49 and had previously closed at $14.45.
A number of equities research analysts have recently weighed in on the company. Bank of America Corp. assumed coverage on Cenovus Energy in a research note on Friday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. TD Securities cut Cenovus Energy from a “buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a research note on Wednesday, August 10th. Zacks Investment Research raised Cenovus Energy from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, August 2nd. Scotiabank reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Cenovus Energy in a research note on Sunday, July 31st. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Cenovus Energy in a research note on Friday, July 29th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $20.21.
The stock has a market cap of $12.17 billion and a price-to-earnings ratio of 20.21. The company has a 50 day moving average price of $14.53 and a 200-day moving average price of $13.94.
Cenovus Energy (NYSE:CVE) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. During the same period last year, the company earned $0.18 EPS. On average, equities analysts forecast that Cenovus Energy Inc. will post ($0.58) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.0378 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.04%.
A hedge fund recently bought a new stake in Cenovus Energy stock. Trexquant Investment LP acquired a new position in Cenovus Energy Inc. (NYSE:CVE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 83,513 shares of the company’s stock, valued at approximately $1,054,000.
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.