Cenovus Energy Inc (CVE) Shares Gap Up to $8.02

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.81, but opened at $8.02. Cenovus Energy shares last traded at $8.29, with a volume of 6,960,263 shares trading hands.

CVE has been the subject of several analyst reports. Canaccord Genuity reissued a “buy” rating and set a $14.00 price target on shares of Cenovus Energy in a report on Tuesday. ValuEngine downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Barclays PLC reissued an “overweight” rating and set a $22.00 price target (up from $15.00) on shares of Cenovus Energy in a report on Wednesday, July 12th. Finally, Macquarie downgraded shares of Cenovus Energy from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Cenovus Energy currently has an average rating of “Hold” and an average price target of $17.04.

The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 3.59 and a beta of 0.56. The firm has a 50 day moving average price of $7.86 and a 200-day moving average price of $9.45.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.24. The business had revenue of $3.03 billion during 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 last year, the business earned ($0.05) EPS. On average, analysts predict that Cenovus Energy Inc will post $0.40 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.039 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is 8.33%.

A number of hedge funds and other institutional investors have recently modified their holdings of CVE. Acadian Asset Management LLC raised its holdings in Cenovus Energy by 51.6% during the 1st quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 4,700 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Cenovus Energy by 16.1% during the 1st quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock worth $921,000 after purchasing an additional 11,313 shares during the last quarter. First Trust Advisors LP raised its holdings in Cenovus Energy by 17.8% during the 1st quarter. First Trust Advisors LP now owns 43,183 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 6,521 shares during the last quarter. Princeton Alpha Management LP raised its holdings in Cenovus Energy by 26.2% during the 1st quarter. Princeton Alpha Management LP now owns 25,850 shares of the oil and gas company’s stock worth $292,000 after purchasing an additional 5,374 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in Cenovus Energy by 1.4% during the 1st quarter. World Asset Management Inc now owns 51,918 shares of the oil and gas company’s stock worth $587,000 after purchasing an additional 695 shares during the last quarter. Institutional investors and hedge funds own 56.17% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Cenovus Energy Inc (CVE) Shares Gap Up to $8.02” was posted by BBNS and is the property of of BBNS. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://baseballnewssource.com/markets/cenovus-energy-inc-cve-shares-gap-up-to-8-02-2/1590376.html.

About Cenovus Energy

Receive News & Ratings for Cenovus Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy Inc and related companies with our FREE daily email newsletter.

 


Latest News

Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Cleveland Indians Winning Streak Reaches 18
Cleveland Indians Winning Streak Reaches 18


Leave a Reply

 
© 2006-2017 BBNS.