Cenovus Energy (NYSE:CVE) (TSE:CVE)‘s stock had its “buy” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Wednesday, AnalystRatings.com reports.
A number of other analysts have also recently weighed in on CVE. TheStreet upgraded shares of Cenovus Energy from a “d+” rating to a “c” rating in a report on Wednesday, November 6th. Citigroup raised shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Monday, October 7th. AltaCorp Capital raised shares of Cenovus Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 31st. CIBC set a $16.00 price target on Cenovus Energy and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, UBS Group increased their price objective on Cenovus Energy from $12.50 to $13.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Cenovus Energy currently has an average rating of “Hold” and an average target price of $14.38.
CVE opened at $9.40 on Wednesday. Cenovus Energy has a 12-month low of $6.15 and a 12-month high of $10.82. The company has a current ratio of 1.12, a quick ratio of 0.60 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $8.97 and its 200-day simple moving average is $8.87. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of -5.40, a PEG ratio of 1.20 and a beta of 0.98.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.08. Cenovus Energy had a net margin of 3.41% and a negative return on equity of 5.76%. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the firm earned ($0.20) earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, equities research analysts predict that Cenovus Energy will post 0.45 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Man Group plc boosted its stake in Cenovus Energy by 18.6% in the 3rd quarter. Man Group plc now owns 1,293,134 shares of the oil and gas company’s stock worth $12,130,000 after purchasing an additional 203,236 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Cenovus Energy during the 3rd quarter worth approximately $640,000. Voloridge Investment Management LLC acquired a new position in Cenovus Energy during the 3rd quarter valued at approximately $1,402,000. Pictet Asset Management Ltd. increased its stake in Cenovus Energy by 3.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 411,523 shares of the oil and gas company’s stock valued at $3,863,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co acquired a new position in Cenovus Energy during the 3rd quarter valued at approximately $3,282,000. 76.89% of the stock is owned by hedge funds and other institutional investors.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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