BidaskClub upgraded shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) from a strong sell rating to a sell rating in a research report sent to investors on Thursday, July 13th.
Other research analysts have also issued reports about the stock. Canaccord Genuity raised shares of Cenovus Energy from a hold rating to a buy rating in a research note on Wednesday, June 21st. TD Securities raised shares of Cenovus Energy from a hold rating to a buy rating in a research note on Friday, March 24th. Zacks Investment Research lowered shares of Cenovus Energy from a buy rating to a hold rating in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and issued a $8.00 target price on shares of Cenovus Energy in a report on Thursday, June 22nd. Finally, Macquarie upgraded shares of Cenovus Energy from an underperform rating to a neutral rating in a report on Thursday, March 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Cenovus Energy currently has a consensus rating of Hold and an average price target of $17.34.
Cenovus Energy (NYSE:CVE) opened at 8.32 on Thursday. The firm has a market capitalization of $10.22 billion, a P/E ratio of 3.52 and a beta of 0.57. Cenovus Energy has a 12 month low of $6.76 and a 12 month high of $16.82. The stock’s 50 day moving average price is $7.53 and its 200 day moving average price is $10.47.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The business 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 period in the prior year, the firm earned ($0.05) earnings per share. On average, analysts forecast that Cenovus Energy will post $0.37 earnings per share for the current year.
WARNING: This story was first posted by BBNS and is the sole property of of BBNS. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://baseballnewssource.com/markets/cenovus-energy-inc-cve-upgraded-to-sell-at-bidaskclub-updated-updated-updated/1199291.html.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.039 per share. The ex-dividend date is Thursday, September 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.88%. Cenovus Energy’s payout ratio is presently 8.33%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. TD Asset Management Inc. increased its position in Cenovus Energy by 46.9% in the first quarter. TD Asset Management Inc. now owns 40,979,115 shares of the oil and gas company’s stock valued at $462,442,000 after buying an additional 13,092,198 shares during the period. FMR LLC increased its position in Cenovus Energy by 33.0% in the first quarter. FMR LLC now owns 43,684,595 shares of the oil and gas company’s stock valued at $494,381,000 after buying an additional 10,833,896 shares during the period. First Eagle Investment Management LLC increased its position in Cenovus Energy by 25.6% in the first quarter. First Eagle Investment Management LLC now owns 31,675,743 shares of the oil and gas company’s stock valued at $357,936,000 after buying an additional 6,448,369 shares during the period. Letko Brosseau & Associates Inc. increased its position in Cenovus Energy by 43.3% in the first quarter. Letko Brosseau & Associates Inc. now owns 19,804,042 shares of the oil and gas company’s stock valued at $223,728,000 after buying an additional 5,982,700 shares during the period. Finally, Pzena Investment Management LLC increased its position in shares of Cenovus Energy by 40.6% in the first quarter. Pzena Investment Management LLC now owns 19,032,719 shares of the oil and gas company’s stock valued at $215,070,000 after buying an additional 5,494,952 shares during the last quarter. 55.90% of the stock is currently owned by hedge funds and other institutional investors.
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.