Cenovus Energy Inc. (NYSE:CVE) Receives $29.00 Average PT from Brokerages

Shares of Cenovus Energy Inc. (NYSE:CVEGet Free Report) (TSE:CVE) have been given a consensus rating of “Buy” by the four analysts that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $29.00.

A number of equities research analysts recently commented on CVE shares. Morgan Stanley lifted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. StockNews.com downgraded Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th.

Check Out Our Latest Stock Analysis on CVE

Institutional Investors Weigh In On Cenovus Energy

Several hedge funds and other institutional investors have recently modified their holdings of CVE. SVB Wealth LLC increased its holdings in Cenovus Energy by 2.6% during the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 507 shares during the period. Lindbrook Capital LLC raised its position in shares of Cenovus Energy by 17.6% in the first quarter. Lindbrook Capital LLC now owns 4,240 shares of the oil and gas company’s stock worth $85,000 after buying an additional 636 shares in the last quarter. Fifth Third Bancorp boosted its stake in Cenovus Energy by 80.3% during the first quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 647 shares during the period. Spire Wealth Management grew its position in Cenovus Energy by 41.9% during the fourth quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock worth $38,000 after buying an additional 681 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Cenovus Energy by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 156,345 shares of the oil and gas company’s stock worth $2,603,000 after acquiring an additional 774 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Up 0.1 %

Shares of NYSE:CVE opened at $18.25 on Tuesday. Cenovus Energy has a 1 year low of $14.69 and a 1 year high of $21.90. The company has a market capitalization of $33.90 billion, a PE ratio of 10.14 and a beta of 2.06. The business has a fifty day moving average price of $20.31 and a two-hundred day moving average price of $18.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.98 billion. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. Analysts forecast that Cenovus Energy will post 2.05 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were issued a dividend of $0.0981 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a yield of 6.45%. Cenovus Energy’s dividend payout ratio (DPR) is 28.89%.

Cenovus Energy Company Profile

(Get Free Report

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.

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