TD Securities Downgrades Cenovus Energy to Buy (CVE)
Cenovus Energy (NYSE:CVE) was downgraded by equities research analysts at TD Securities to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on CVE. Analysts at Zacks reiterated a “hold” rating on shares of Cenovus Energy in a research note to investors on Friday, October 11th. They now have a $29.40 price target on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Cenovus Energy from $38.00 to $37.00 in a research note to investors on Friday, October 11th. Finally, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Cenovus Energy in a research note to investors on Tuesday, September 24th. They now have a $40.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.93.
Shares of Cenovus Energy (NYSE:CVE) traded up 0.57% on Friday, hitting $29.76. The stock had a trading volume of 279,026 shares. Cenovus Energy has a 1-year low of $27.25 and a 1-year high of $37.30. The stock has a 50-day moving average of $29.10 and a 200-day moving average of $29.85. The company has a market cap of $22.493 billion and a P/E ratio of 42.21.
Cenovus Energy (NYSE:CVE) last released its earnings data on Thursday, October 24th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.08. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, analysts predict that Cenovus Energy will post $1.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.24 per share. This represents a $0.94 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, December 11th.
Cenovus Energy Inc (NYSE:CVE) is an integrated oil company.
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