Cenovus Energy’s (CVE) Outperform Rating Reaffirmed at Royal Bank of Canada

Cenovus Energy (NYSE:CVE) (TSE:CVE)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 78.13% from the stock’s previous close.

Several other research firms have also recently issued reports on CVE. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Wednesday, March 26th. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Scotiabank raised Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Cenovus Energy Trading Up 0.3 %

Shares of CVE stock traded up $0.04 during mid-day trading on Wednesday, reaching $14.04. The company’s stock had a trading volume of 2,008,161 shares, compared to its average volume of 8,504,948. Cenovus Energy has a 12-month low of $12.08 and a 12-month high of $21.90. The company’s 50 day simple moving average is $14.22 and its 200-day simple moving average is $15.38. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $25.59 billion, a PE ratio of 11.59 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. On average, research analysts predict that Cenovus Energy will post 1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Cenovus Energy

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 851 shares during the period. Sierra Ocean LLC acquired a new position in shares of Cenovus Energy in the 4th quarter valued at about $67,000. Blue Trust Inc. boosted its position in Cenovus Energy by 54.7% during the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 1,677 shares during the last quarter. Natixis acquired a new position in Cenovus Energy in the 4th quarter worth about $98,000. Finally, Black Maple Capital Management LP purchased a new stake in shares of Cenovus Energy during the 4th quarter worth about $167,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Company Profile

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.