Cenovus Energy Inc. (NYSE:CVE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $30.75.

Several research firms recently issued reports on CVE. BMO Capital Markets cut their price objective on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Scotiabank cut their price objective on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVE. Banque Cantonale Vaudoise purchased a new position in shares of Cenovus Energy in the first quarter valued at approximately $30,000. Wolff Wiese Magana LLC lifted its stake in Cenovus Energy by 71.4% in the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 1,417 shares during the last quarter. Blue Trust Inc. lifted its stake in Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,651 shares during the last quarter. Finally, American National Bank purchased a new position in Cenovus Energy in the first quarter worth approximately $52,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $16.93 on Monday. The firm has a 50-day simple moving average of $17.72 and a 200-day simple moving average of $19.18. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 9.41 and a beta of 2.04. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. Cenovus Energy has a 52 week low of $14.69 and a 52 week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. The firm had revenue of $10.88 billion for the quarter, compared to analyst estimates of $9.78 billion. On average, equities analysts predict that Cenovus Energy will post 1.84 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.132 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy’s payout ratio is 29.44%.

About Cenovus Energy

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.