Cenovus Energy Inc (NYSE:CVE) (TSE:CVE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.81, but opened at $8.02. Cenovus Energy shares last traded at $8.29, with a volume of 6,960,263 shares.

Several equities analysts have recently commented on CVE shares. ValuEngine lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Canaccord Genuity upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Barclays PLC reiterated an “overweight” rating and set a $22.00 target price (up from $15.00) on shares of Cenovus Energy in a report on Wednesday, July 12th. Finally, Macquarie lowered shares of Cenovus Energy from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Cenovus Energy currently has a consensus rating of “Hold” and an average target price of $17.04.

The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 3.53 and a beta of 0.56. The firm’s 50 day moving average price is $7.80 and its 200 day moving average price is $9.50.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. Equities research analysts anticipate that Cenovus Energy Inc will post $0.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.039 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, September 14th. Cenovus Energy’s payout ratio is currently 8.33%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allegis Investment Advisors LLC lifted its position in shares of Cenovus Energy by 16.9% during the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 2,016 shares in the last quarter. Cigna Investments Inc. New acquired a new position in shares of Cenovus Energy during the second quarter worth $110,000. FNY Partners Fund LP acquired a new position in shares of Cenovus Energy during the first quarter worth $113,000. First Commonwealth Financial Corp PA acquired a new position in shares of Cenovus Energy during the second quarter worth $114,000. Finally, Sciencast Management LP acquired a new position in shares of Cenovus Energy during the second quarter worth $124,000. 56.17% of the stock is currently owned by institutional investors and hedge funds.

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