Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has been given an average rating of “Hold” by the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.36.

Several equities research analysts have issued reports on the stock. UBS AG lowered shares of Cenovus Energy from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 5th. Canaccord Genuity reissued a “buy” rating and issued a $15.50 price target on shares of Cenovus Energy in a report on Thursday, October 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $15.00 price target on shares of Cenovus Energy in a report on Monday, October 16th. Zacks Investment Research raised shares of Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Thursday, October 19th. Finally, BidaskClub raised shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd.

Several hedge funds have recently made changes to their positions in CVE. Wells Fargo & Company MN increased its stake in shares of Cenovus Energy by 16.1% in the 1st quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock valued at $921,000 after acquiring an additional 11,313 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Cenovus Energy by 17.8% in the 1st quarter. First Trust Advisors LP now owns 43,183 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 6,521 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Cenovus Energy by 21.8% in the 1st quarter. Ameriprise Financial Inc. now owns 117,706 shares of the oil and gas company’s stock valued at $1,326,000 after acquiring an additional 21,046 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Cenovus Energy by 26.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 159,190 shares of the oil and gas company’s stock valued at $1,799,000 after acquiring an additional 33,779 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Cenovus Energy in the 1st quarter valued at about $205,000. 54.83% of the stock is owned by institutional investors.

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Cenovus Energy (NYSE CVE) opened at 9.47 on Wednesday. The company has a market capitalization of $11.64 billion, a P/E ratio of 3.87 and a beta of 0.60. Cenovus Energy has a 52-week low of $6.76 and a 52-week high of $16.82. The stock has a 50 day moving average of $9.53 and a 200-day moving average of $8.77.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, equities analysts forecast that Cenovus Energy will post $0.50 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.039 per share. The ex-dividend date of this dividend was Thursday, September 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 1.65%. Cenovus Energy’s dividend payout ratio is presently 8.89%.

About Cenovus Energy

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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