Cenovus Energy Given Average Rating of “Hold” by Analysts (NYSE:CVE)
Cenovus Energy (NYSE:CVE) has earned a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the stock, AnalystRatings.Net reports. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $36.83.
Shares of Cenovus Energy (NYSE:CVE) opened at 30.40 on Tuesday. Cenovus Energy has a 52 week low of $25.52 and a 52 week high of $32.64. The stock’s 50-day moving average is $31.09 and its 200-day moving average is $29.11. The company has a market cap of $23.014 billion and a price-to-earnings ratio of 21.39.
Cenovus Energy (NYSE:CVE) last released its earnings data on Wednesday, July 30th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.14. During the same quarter last year, the company posted $0.34 earnings per share. On average, analysts predict that Cenovus Energy will post $1.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.2461 per share. This represents a $0.98 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, September 11th.
CVE has been the subject of a number of recent research reports. Analysts at TD Securities raised their price target on shares of Cenovus Energy from C$35.00 to C$36.00 in a research note on Friday, August 1st. They now have a “hold” rating on the stock. Separately, analysts at Barclays downgraded shares of Cenovus Energy from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 25th. Finally, analysts at CIBC reiterated a “sector perform” rating on shares of Cenovus Energy in a research note on Thursday, July 17th. They now have a $37.50 price target on the stock, up previously from $36.00.
Cenovus Energy, Inc (NYSE:CVE) is Canadian integrated oil company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.