Analysts Set Cenovus Energy Inc. (NYSE:CVE) PT at $29.00

Shares of Cenovus Energy Inc. (NYSE:CVEGet Free Report) (TSE:CVE) have been assigned an average recommendation of “Buy” from the four research firms that are presently covering the firm, reports. Four research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.00.

A number of brokerages recently issued reports on CVE. Raymond James upgraded shares of Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Morgan Stanley upped their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, raised Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 5th.

View Our Latest Analysis on CVE

Cenovus Energy Stock Up 2.1 %

NYSE:CVE opened at $19.66 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.70 and a debt-to-equity ratio of 0.25. Cenovus Energy has a 12-month low of $14.69 and a 12-month high of $21.90. The stock’s fifty day simple moving average is $19.77 and its 200-day simple moving average is $18.65. The firm has a market capitalization of $36.55 billion, a P/E ratio of 10.92 and a beta of 2.07.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last issued its earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.98 billion. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. Equities research analysts expect that Cenovus Energy will post 2.04 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 given a $0.0981 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.18 annualized dividend and a yield of 5.99%. Cenovus Energy’s dividend payout ratio is currently 28.89%.

Institutional Trading of Cenovus Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors boosted its position in shares of Cenovus Energy by 216.3% during the first quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company’s stock worth $678,250,000 after buying an additional 23,202,018 shares during the period. TD Asset Management Inc lifted its stake in Cenovus Energy by 26.5% in the 4th quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock valued at $706,503,000 after acquiring an additional 8,841,374 shares in the last quarter. Boston Partners boosted its position in Cenovus Energy by 29.0% during the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after acquiring an additional 8,438,979 shares during the last quarter. Capital World Investors grew its stake in shares of Cenovus Energy by 5.4% during the 4th quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock worth $2,508,185,000 after acquiring an additional 7,750,480 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Cenovus Energy by 1,224.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 4,097,451 shares of the oil and gas company’s stock valued at $68,231,000 after purchasing an additional 3,787,979 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

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.

Further Reading

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