Brokerages Set Cenovus Energy Inc. (NYSE:CVE) PT at $30.00

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $30.00.

CVE has been the subject of several recent analyst reports. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. BMO Capital Markets reduced 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 report on Friday, November 1st. Finally, StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th.

Institutional Investors Weigh In On Cenovus Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Truvestments Capital LLC purchased a new stake in Cenovus Energy in the 3rd quarter valued at $25,000. Blue Trust Inc. grew its holdings 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 valued at $51,000 after purchasing an additional 2,651 shares during the period. Northwestern Mutual Wealth Management Co. increased 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 worth $170,000 after purchasing an additional 643 shares during the last quarter. SevenBridge Financial Group LLC purchased a new position in Cenovus Energy during the third quarter worth about $162,000. Finally, Harmony Asset Management LLC acquired a new position in Cenovus Energy in the 2nd quarter valued at about $244,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Up 0.2 %

CVE stock opened at $15.34 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy has a 52-week low of $14.20 and a 52-week high of $21.90. The company’s 50-day simple moving average is $15.53 and its 200-day simple moving average is $17.38. The firm has a market cap of $28.00 billion, a P/E ratio of 10.58 and a beta of 2.02.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data 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%. Cenovus Energy’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, equities analysts forecast that Cenovus Energy will post 1.48 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.133 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.47%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is 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.