Brokerages Set Cenovus Energy Inc (NYSE:CVE) PT at $25.75

Shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $25.75.

Several equities analysts have recently weighed in on CVE shares. Royal Bank Of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Veritas cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. National Bankshares reiterated a “sector perform” rating on shares of Cenovus Energy in a research note on Friday, April 25th. The Goldman Sachs Group cut their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th.

Hedge Funds Weigh In On Cenovus Energy

A number of hedge funds have recently modified their holdings of CVE. Capital World Investors raised its holdings in shares of Cenovus Energy by 15.8% during the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock valued at $2,901,131,000 after purchasing an additional 26,127,617 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Cenovus Energy by 56.5% during the first quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock valued at $270,742,000 after purchasing an additional 7,035,004 shares during the period. Vanguard Group Inc. raised its holdings in shares of Cenovus Energy by 8.8% during the first quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company’s stock valued at $757,213,000 after purchasing an additional 4,401,045 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cenovus Energy by 33.6% during the first quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company’s stock valued at $241,513,000 after purchasing an additional 4,362,384 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Cenovus Energy by 2,719.3% during the first quarter. Acadian Asset Management LLC now owns 4,141,434 shares of the oil and gas company’s stock valued at $57,533,000 after purchasing an additional 3,994,539 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Price Performance

CVE stock opened at $13.94 on Friday. The stock has a market cap of $25.41 billion, a PE ratio of 13.03 and a beta of 0.94. The stock has a 50-day moving average price of $13.15 and a two-hundred day moving average price of $13.83. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. Cenovus Energy has a 1 year low of $10.23 and a 1 year high of $20.76.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $11.15 billion during the quarter, compared to analysts’ expectations of $12.39 billion. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. During the same quarter last year, the company earned $0.62 EPS. Equities analysts forecast that Cenovus Energy will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.20 per share. This represents a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Cenovus Energy’s previous dividend of $0.11. Cenovus Energy’s payout ratio is presently 54.21%.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.