Cenovus Energy Rating Increased to Neutral at Zacks (CVE)
Cenovus Energy (NYSE:CVE) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, AmericanBankingNews.com reports. The firm currently has a $26.20 price objective on the stock. Zacks‘ price target indicates a potential upside of 2.38% from the stock’s previous close.
Shares of Cenovus Energy (NYSE:CVE) traded up 0.86% on Friday, hitting $25.81. 467,563 shares of the company’s stock traded hands. Cenovus Energy has a 1-year low of $25.52 and a 1-year high of $32.63. The stock has a 50-day moving average of $26.67 and a 200-day moving average of $28.5. The company has a market cap of $19.514 billion and a price-to-earnings ratio of 28.85.
Cenovus Energy (NYSE:CVE) last released its earnings data on Wednesday, February 19th. The company reported $0.13 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.32. During the same quarter last year, the company posted ($0.25) earnings per share. Analysts expect that Cenovus Energy will post $1.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.2407 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, March 12th.
A number of other analysts have also recently weighed in on CVE. Analysts at TD Securities downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Separately, analysts at Canaccord Genuity downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, analysts at Scotiabank downgraded shares of Cenovus Energy from a “focus list” rating to an “outperform” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Cenovus Energy has an average rating of “Buy” and an average target price of $36.34.
Cenovus Energy, Inc (NYSE:CVE) is Canadian integrated oil company.
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