Shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) have received a consensus rating of “Hold” from the eighteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $18.00.

Several analysts have recently commented on the company. Credit Suisse Group reissued an “outperform” rating on shares of Cenovus Energy in a report on Friday, May 26th. ValuEngine cut Cenovus Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price target on shares of Cenovus Energy in a report on Tuesday. Finally, Zacks Investment Research cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th.

Shares of Cenovus Energy (CVE) traded down 3.33% on Tuesday, reaching $8.12. The company had a trading volume of 3,838,958 shares. The company’s 50-day moving average price is $7.88 and its 200 day moving average price is $9.44. The firm has a market capitalization of $9.98 billion, a P/E ratio of 3.46 and a beta of 0.56. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $16.82.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.24. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm earned ($0.05) EPS. On average, analysts expect that Cenovus Energy will post $0.40 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.039 dividend. 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 1.92%. The ex-dividend date is Thursday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 8.33%.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new position in Cenovus Energy in the 1st quarter valued at approximately $113,000. Allegis Investment Advisors LLC purchased a new position in Cenovus Energy in the 1st quarter valued at approximately $135,000. Neuberger Berman Group LLC increased its stake in Cenovus Energy by 7.4% in the 1st quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock valued at $147,000 after purchasing an additional 900 shares in the last quarter. Acadian Asset Management LLC increased its stake in Cenovus Energy by 51.6% in the 1st quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Cigna Investments Inc. New purchased a new position in Cenovus Energy in the 2nd quarter valued at approximately $110,000. 56.17% of the stock is owned by hedge funds and other institutional investors.

About Cenovus Energy

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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