Cenovus Energy (NYSE:CVE) Rating Lowered to Sector Perform at National Bank Financial

Cenovus Energy (NYSE:CVE) (TSE:CVE) was downgraded by equities researchers at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Friday,Briefing.com Automated Import reports.

Several other equities research analysts also recently commented on CVE. BMO Capital Markets dropped their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Cenovus Energy Price Performance

NYSE CVE opened at $15.31 on Friday. The company has a market cap of $27.92 billion, a PE ratio of 10.56 and a beta of 1.99. Cenovus Energy has a 52 week low of $13.76 and a 52 week high of $21.90. 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’s 50-day simple moving average is $15.00 and its two-hundred day simple moving average is $16.32.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. Research analysts predict that Cenovus Energy will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in shares of Cenovus Energy in the third quarter worth approximately $25,000. Farther Finance Advisors LLC increased its position in shares of 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 last quarter. Blue Trust Inc. increased its position 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 purchasing an additional 2,651 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Cenovus Energy in the fourth quarter worth approximately $67,000. Finally, Natixis bought a new position in shares of Cenovus Energy in the fourth quarter worth approximately $98,000. 51.19% of the stock is currently owned by institutional investors.

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.