Cenovus Energy Inc. (NYSE:CVE) Receives $30.00 Consensus PT from Analysts

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $30.00.

A number of equities analysts have issued reports on CVE shares. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, BMO Capital Markets decreased their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st.

Hedge Funds Weigh In On Cenovus Energy

Several large investors have recently added to or reduced their stakes in CVE. Atria Investments Inc bought a new position in Cenovus Energy during the 1st quarter valued at $1,482,000. Manning & Napier Advisors LLC purchased a new position in Cenovus Energy during the second quarter worth about $2,946,000. M&G Plc grew its position in Cenovus Energy by 2.4% in the 2nd quarter. M&G Plc now owns 3,496,370 shares of the oil and gas company’s stock worth $69,013,000 after purchasing an additional 82,840 shares in the last quarter. SkyView Investment Advisors LLC purchased a new stake in Cenovus Energy in the 1st quarter valued at about $733,000. Finally, Semanteon Capital Management LP bought a new position in shares of Cenovus Energy during the 3rd quarter worth approximately $845,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Down 1.4 %

NYSE:CVE opened at $16.11 on Friday. Cenovus Energy has a 52 week low of $14.69 and a 52 week high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The firm’s fifty day moving average is $16.94 and its 200-day moving average is $18.68. The firm has a market cap of $29.47 billion, a P/E ratio of 11.11 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its 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. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. Equities analysts expect that Cenovus Energy will post 1.51 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.133 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 annualized dividend and a yield of 3.30%. Cenovus Energy’s dividend payout ratio is presently 36.55%.

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.