Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) was downgraded by Raymond James Financial, Inc. from a “market perform” rating to an “underperform” rating in a research report issued on Wednesday, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on CVE. Zacks Investment Research cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. TD Securities upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Friday, March 24th. Goldman Sachs Group, Inc. (The) lowered their price objective on shares of Cenovus Energy from $13.00 to $12.00 and set a “sell” rating for the company in a research report on Wednesday, March 8th. Canaccord Genuity reiterated a “hold” rating and set a $16.50 price objective on shares of Cenovus Energy in a research report on Wednesday, April 26th. Finally, Macquarie upgraded shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, March 30th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $18.95.

Cenovus Energy (NYSE CVE) traded down 1.13% during mid-day trading on Wednesday, hitting $7.00. 7,895,733 shares of the stock traded hands. The firm’s market cap is $5.83 billion. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $16.82. The firm’s 50-day moving average price is $8.48 and its 200-day moving average price is $11.79.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by $0.06. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $3.21 billion. Cenovus Energy had a negative net margin of 1.64% and a positive return on equity of 0.03%. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. On average, equities analysts forecast that Cenovus Energy will post $0.20 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.0371 dividend. This represents a $0.15 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Tuesday, June 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently -71.43%.

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A number of institutional investors have recently made changes to their positions in CVE. FNY Partners Fund LP acquired a new position in shares of Cenovus Energy during the first quarter valued at about $113,000. Allegis Investment Advisors LLC acquired a new position in shares of Cenovus Energy during the first quarter valued at about $135,000. Neuberger Berman Group LLC boosted its position in shares of Cenovus Energy by 7.4% in the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC boosted its position in shares of Cenovus Energy by 51.6% in the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4,700 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in shares of Cenovus Energy during the first quarter valued at about $182,000. Hedge funds and other institutional investors own 56.96% of the company’s stock.

Cenovus Energy Company Profile

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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