Cenovus Energy Inc (CVE) Receives Consensus Rating of “Hold” from Brokerages

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has received a consensus rating of “Hold” from the twenty brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.70.

Several research analysts recently weighed in on CVE shares. TD Securities upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Monday, October 22nd. Scotiabank upgraded shares of Cenovus Energy from a “sector perform” rating to a “buy” rating in a research report on Tuesday, October 30th. Raymond James reiterated a “hold” rating on shares of Cenovus Energy in a research report on Thursday, November 1st. Zacks Investment Research reiterated a “buy” rating and set a $9.25 price target on shares of Cenovus Energy in a research report on Tuesday, November 13th. Finally, Morgan Stanley reduced their price target on shares of Cenovus Energy from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 20th.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. grew its holdings in shares of Cenovus Energy by 52.8% in the fourth quarter. Whittier Trust Co. now owns 11,876 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 4,104 shares during the last quarter. Blume Capital Management Inc. grew its holdings in shares of Cenovus Energy by 21.6% in the fourth quarter. Blume Capital Management Inc. now owns 12,381 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 2,200 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Cenovus Energy by 1,540.0% in the fourth quarter. Acadian Asset Management LLC now owns 16,400 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 15,400 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Cenovus Energy in the fourth quarter worth approximately $156,000. Finally, United Services Automobile Association grew its holdings in shares of Cenovus Energy by 46.5% in the second quarter. United Services Automobile Association now owns 21,948 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 6,969 shares during the last quarter. Institutional investors and hedge funds own 74.94% of the company’s stock.

Shares of CVE stock traded up $0.33 during trading on Tuesday, hitting $8.69. The company had a trading volume of 4,476,019 shares, compared to its average volume of 4,367,000. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of -4.99, a price-to-earnings-growth ratio of 3.11 and a beta of 0.72. Cenovus Energy has a 52 week low of $6.15 and a 52 week high of $11.47.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, February 13th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.87). The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.78 billion. Cenovus Energy had a negative return on equity of 15.37% and a negative net margin of 12.41%. During the same quarter last year, the company posted ($0.42) earnings per share. As a group, sell-side analysts forecast that Cenovus Energy will post 0.45 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.0377 per share. This represents a $0.15 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, March 14th. Cenovus Energy’s payout ratio is currently -8.62%.

About Cenovus Energy

Cenovus Energy, Inc engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids, and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen and natural gas in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake.

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