Cenovus Energy Inc (CVE) PT Set at $15.00 by Morgan Stanley
CVE has been the subject of several other research reports. Zacks Investment Research cut shares of Cenovus Energy from a buy rating to a hold rating in a research note on Wednesday, July 26th. Canaccord Genuity reiterated a buy rating and issued a $14.50 target price on shares of Cenovus Energy in a research note on Monday, September 25th. BidaskClub upgraded shares of Cenovus Energy from a strong sell rating to a sell rating in a research note on Wednesday, August 2nd. National Bank Financial assumed coverage on shares of Cenovus Energy in a research note on Tuesday, June 27th. They issued a sector perform rating for the company. Finally, Barclays PLC reiterated an overweight rating and issued a $22.00 target price (up previously from $15.00) on shares of Cenovus Energy in a research note on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Cenovus Energy has an average rating of Hold and an average price target of $15.59.
Cenovus Energy (NYSE CVE) opened at 9.73 on Friday. Cenovus Energy has a 1-year low of $6.76 and a 1-year high of $16.82. The firm has a market cap of $11.96 billion, a PE ratio of 3.97 and a beta of 0.59. The company has a 50 day moving average price of $9.20 and a 200 day moving average price of $8.84.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same period last year, the business posted ($0.05) earnings per share. On average, equities research analysts forecast that Cenovus Energy will post $0.48 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.039 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 1.60%. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.89%.
A number of institutional investors and hedge funds have recently made changes to their positions in CVE. FMR LLC lifted its stake in Cenovus Energy by 23.7% during the second quarter. FMR LLC now owns 54,026,588 shares of the oil and gas company’s stock worth $398,284,000 after purchasing an additional 10,341,993 shares during the period. Burgundy Asset Management Ltd. lifted its stake in Cenovus Energy by 49.0% during the second quarter. Burgundy Asset Management Ltd. now owns 25,289,102 shares of the oil and gas company’s stock worth $186,301,000 after purchasing an additional 8,322,165 shares during the period. Letko Brosseau & Associates Inc. lifted its stake in Cenovus Energy by 37.1% during the second quarter. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company’s stock worth $199,920,000 after purchasing an additional 7,354,590 shares during the period. Lincluden Management Ltd. lifted its stake in Cenovus Energy by 106,932.2% during the second quarter. Lincluden Management Ltd. now owns 5,122,563 shares of the oil and gas company’s stock worth $38,891,000 after purchasing an additional 5,117,777 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Cenovus Energy by 337.4% during the second quarter. Renaissance Technologies LLC now owns 4,392,500 shares of the oil and gas company’s stock worth $32,376,000 after purchasing an additional 3,388,200 shares during the period. Hedge funds and other institutional investors own 56.17% of the company’s stock.
Cenovus Energy Company Profile
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