ValuEngine upgraded shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) from a sell rating to a hold rating in a research report sent to investors on Tuesday, February 5th.
A number of other brokerages have also issued reports on CVE. CIBC lowered shares of Cenovus Energy from a sector outperform rating to a neutral rating in a research report on Thursday, January 31st. Morgan Stanley reiterated a hold rating on shares of Cenovus Energy in a research report on Tuesday, January 29th. Credit Suisse Group began coverage on shares of Cenovus Energy in a research report on Monday, January 28th. They set an outperform rating and a $15.00 price objective for the company. AltaCorp Capital lowered shares of Cenovus Energy from an outperform rating to a sector perform rating in a research report on Monday, January 7th. Finally, BMO Capital Markets restated an average rating and set a $13.50 price objective on shares of Cenovus Energy in a research report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Cenovus Energy currently has an average rating of Hold and an average price target of $12.54.
Cenovus Energy stock traded down $0.02 during trading on Tuesday, reaching $9.14. The company had a trading volume of 2,540,065 shares, compared to its average volume of 4,816,585. Cenovus Energy has a 12-month low of $6.15 and a 12-month high of $11.47. The company has a market cap of $10.92 billion, a price-to-earnings ratio of -5.25, a PEG ratio of 4.46 and a beta of 0.72. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.84 and a current ratio of 1.23.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Wednesday, February 13th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.87). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.78 billion. Cenovus Energy had a negative return on equity of 15.71% and a negative net margin of 12.41%. During the same period last year, the company posted ($0.42) earnings per share. Sell-side analysts predict that Cenovus Energy will post 0.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.0377 per share. This represents a $0.15 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, March 14th. Cenovus Energy’s payout ratio is presently -8.62%.
Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. grew its holdings in Cenovus Energy by 52.8% during the fourth quarter. Whittier Trust Co. now owns 11,876 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 4,104 shares during the last quarter. Blume Capital Management Inc. grew its holdings in Cenovus Energy by 21.6% during the fourth quarter. Blume Capital Management Inc. now owns 12,381 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 2,200 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Cenovus Energy by 1,540.0% during the fourth quarter. Acadian Asset Management LLC now owns 16,400 shares of the oil and gas company’s stock valued at $115,000 after purchasing an additional 15,400 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Cenovus Energy in the fourth quarter worth $156,000. Finally, United Services Automobile Association grew its stake in shares of Cenovus Energy by 46.5% in the second quarter. United Services Automobile Association now owns 21,948 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 6,969 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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