Cenovus Energy Inc. (NYSE:CVE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently 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 twelve-month price objective among brokers that have covered the stock in the last year is $30.00.

A number of equities analysts have recently issued reports on the company. BMO Capital Markets reduced their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Finally, TD Securities lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st.

Institutional Trading of Cenovus Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new position in Cenovus Energy during the third quarter valued at $25,000. Blue Trust Inc. boosted its stake in shares of 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 buying an additional 2,651 shares during the last quarter. SevenBridge Financial Group LLC acquired a new stake in Cenovus Energy during the third quarter worth about $162,000. Northwestern Mutual Wealth Management Co. raised its position in Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after acquiring an additional 643 shares in the last quarter. Finally, FCG Investment Co acquired a new position in Cenovus Energy in the third quarter valued at approximately $211,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Trading Up 0.2 %

CVE opened at $15.34 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 10.58 and a beta of 2.02. Cenovus Energy has a 12 month low of $14.20 and a 12 month high of $21.90. The stock has a fifty day moving average price of $15.53 and a 200-day moving average price of $17.38.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, equities research analysts anticipate that Cenovus Energy will post 1.48 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.133 dividend. This represents a $0.53 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio is 36.55%.

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.