Cenovus Energy Inc (NYSE:CVE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.6667.

CVE has been the topic of several analyst reports. Zacks Research downgraded Cenovus Energy from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Veritas upgraded Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Wall Street Zen lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cenovus Energy in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada boosted their price objective on Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th.

Institutional Investors Weigh In On Cenovus Energy

A number of large investors have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. boosted its holdings in Cenovus Energy by 3.9% in the fourth quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock valued at $227,000 after acquiring an additional 500 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Cenovus Energy by 0.6% in the 4th quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock worth $1,590,000 after purchasing an additional 523 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Cenovus Energy by 0.9% during the 4th quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock valued at $1,104,000 after purchasing an additional 565 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Cenovus Energy by 24.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 649 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Cenovus Energy by 15.7% during the fourth quarter. IFP Advisors Inc now owns 4,839 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 656 shares during the period. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

CVE stock opened at $25.09 on Monday. The firm has a market cap of $47.17 billion, a P/E ratio of 16.40 and a beta of 0.43. The firm’s fifty day moving average is $21.19 and its 200 day moving average is $18.63. Cenovus Energy has a 52 week low of $10.23 and a 52 week high of $25.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.57.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $10.89 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. Research analysts predict that Cenovus Energy will post 1.49 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, March 13th. Cenovus Energy’s dividend payout ratio is currently 38.56%.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.