Cenovus Energy Inc (NYSE:CVE) (TSE:CVE)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a research note issued on Thursday. They currently have a $15.50 price objective on the oil and gas company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 54.85% from the stock’s current price.

CVE has been the subject of a number of other reports. Morgan Stanley set a $15.00 price objective on shares of Cenovus Energy and gave the company a “buy” rating in a research note on Friday, October 13th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 price objective on shares of Cenovus Energy in a research note on Monday. Zacks Investment Research lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. BidaskClub raised shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, National Bank Financial began coverage on shares of Cenovus Energy in a research note on Tuesday, June 27th. They set a “sector perform” rating for the company. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Cenovus Energy currently has a consensus rating of “Hold” and an average target price of $16.06.

Cenovus Energy (NYSE CVE) traded up 2.25% during trading on Thursday, hitting $10.01. 6,628,305 shares of the stock were exchanged. The stock’s 50-day moving average price is $9.43 and its 200-day moving average price is $8.83. The firm has a market cap of $12.30 billion, a PE ratio of 4.09 and a beta of 0.60. Cenovus Energy has a 12-month low of $6.76 and a 12-month high of $16.82.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm posted ($0.05) EPS. On average, equities analysts expect that Cenovus Energy will post $0.51 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of CVE. Allegis Investment Advisors LLC lifted its position in shares of 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 worth $103,000 after purchasing an additional 2,016 shares in the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Cenovus Energy in the second quarter worth approximately $110,000. FNY Partners Fund LP purchased a new stake in shares of Cenovus Energy in the first quarter worth approximately $113,000. First Commonwealth Financial Corp PA purchased a new stake in shares of Cenovus Energy in the second quarter worth approximately $114,000. Finally, Sciencast Management LP purchased a new stake in shares of Cenovus Energy in the second quarter worth approximately $124,000. 56.17% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Company Profile

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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