Cenovus Energy Inc (CVE) Rating Lowered to Sell at BidaskClub
Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
A number of other brokerages have also weighed in on CVE. UBS AG lowered Cenovus Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Credit Suisse Group reissued an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. Raymond James Financial, Inc. lowered Cenovus Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Canaccord Genuity raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Cenovus Energy currently has a consensus rating of “Hold” and a consensus price target of $17.39.
Shares of Cenovus Energy (NYSE CVE) traded up 0.67% during mid-day trading on Thursday, hitting $7.50. 4,377,951 shares of the stock traded hands. The company has a market capitalization of $9.22 billion, a PE ratio of 4.89 and a beta of 0.57. Cenovus Energy has a 1-year low of $6.76 and a 1-year high of $16.82. The company’s 50-day moving average price is $7.71 and its 200 day moving average price is $10.01.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the firm earned ($0.05) EPS. Equities research analysts forecast that Cenovus Energy will post $0.37 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Allegis Investment Advisors LLC raised its stake in Cenovus Energy by 16.9% in the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 2,016 shares during the last quarter. Cigna Investments Inc. New acquired a new stake in Cenovus Energy during the second quarter valued at approximately $110,000. FNY Partners Fund LP acquired a new stake in Cenovus Energy during the first quarter valued at approximately $113,000. First Commonwealth Financial Corp PA acquired a new stake in Cenovus Energy during the second quarter valued at approximately $114,000. Finally, Sciencast Management LP acquired a new stake in Cenovus Energy during the second quarter valued at approximately $124,000. 55.77% of the stock is owned by hedge funds and other institutional investors.
Cenovus Energy Company Profile
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