Brokerages Set Cenovus Energy Inc. (NYSE:CVE) PT at $26.67

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has been given a consensus recommendation of “Buy” by the five research firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $26.67.

CVE has been the topic of several research reports. Morgan Stanley upped their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada restated an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a research report on Friday, January 26th. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd.

Cenovus Energy Stock Up 0.8 %

Shares of NYSE:CVE opened at $21.46 on Monday. The company’s fifty day moving average is $19.42 and its 200-day moving average is $18.03. The company has a market capitalization of $40.03 billion, a PE ratio of 13.58 and a beta of 2.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56. Cenovus Energy has a 52 week low of $14.69 and a 52 week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. During the same quarter in the prior year, the company earned $0.29 EPS. Equities research analysts predict that Cenovus Energy will post 1.88 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.93%. Cenovus Energy’s dividend payout ratio is 25.95%.

Institutional Trading of Cenovus Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Panview Asian Equity Master Fund increased its stake in shares of Cenovus Energy by 63.5% in the 4th quarter. Panview Asian Equity Master Fund now owns 515,000 shares of the oil and gas company’s stock valued at $8,575,000 after acquiring an additional 200,000 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Cenovus Energy by 4.4% in the 4th quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock valued at $184,278,000 after acquiring an additional 462,273 shares during the last quarter. Canoe Financial LP increased its stake in shares of Cenovus Energy by 20.0% in the 3rd quarter. Canoe Financial LP now owns 1,406,395 shares of the oil and gas company’s stock valued at $29,282,000 after acquiring an additional 234,500 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Cenovus Energy by 16.2% in the 3rd quarter. Deutsche Bank AG now owns 1,422,158 shares of the oil and gas company’s stock valued at $29,609,000 after acquiring an additional 198,062 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Cenovus Energy by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company’s stock valued at $1,030,177,000 after acquiring an additional 690,057 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.