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.

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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

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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