Shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) have received an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $14.38.

Several brokerages have commented on CVE. Goldman Sachs Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Thursday, September 26th. UBS Group boosted their price target on Cenovus Energy from $12.50 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. ValuEngine raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reduced their price objective on Cenovus Energy from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, CIBC set a $16.00 target price on Cenovus Energy and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of Cenovus Energy in the first quarter worth approximately $25,000. SG Americas Securities LLC bought a new stake in shares of Cenovus Energy during the 2nd quarter valued at $457,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cenovus Energy by 15.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,071,014 shares of the oil and gas company’s stock valued at $9,466,000 after acquiring an additional 140,089 shares during the period. Intact Investment Management Inc. increased its stake in shares of Cenovus Energy by 17.5% in the 2nd quarter. Intact Investment Management Inc. now owns 1,851,500 shares of the oil and gas company’s stock worth $21,274,000 after purchasing an additional 276,400 shares in the last quarter. Finally, Aperio Group LLC raised its holdings in Cenovus Energy by 10.7% in the 2nd quarter. Aperio Group LLC now owns 196,491 shares of the oil and gas company’s stock worth $1,733,000 after purchasing an additional 19,009 shares during the period. Institutional investors and hedge funds own 76.89% of the company’s stock.

Shares of Cenovus Energy stock opened at $9.29 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.60 and a current ratio of 1.12. The stock has a market capitalization of $11.41 billion, a PE ratio of -5.34, a price-to-earnings-growth ratio of 1.20 and a beta of 0.98. Cenovus Energy has a 52-week low of $6.15 and a 52-week high of $10.82. The company has a 50-day simple moving average of $8.92 and a two-hundred day simple moving average of $8.85.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.08. Cenovus Energy had a net margin of 3.41% and a negative return on equity of 5.76%. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities research analysts forecast that Cenovus Energy will post 0.45 EPS for the current fiscal year.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

Recommended Story: Trade Deficit

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.