Goldman Sachs Group Inc. lowered shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) from a conviction-buy rating to a buy rating in a report issued on Monday.

Other analysts have also recently issued research reports about the company. TD Securities reiterated a hold rating and set a $21.00 target price on shares of Cenovus Energy in a research report on Saturday, October 29th. Scotiabank reiterated an outperform rating and set a $21.00 target price (up previously from $20.00) on shares of Cenovus Energy in a research report on Saturday, October 29th. Zacks Investment Research cut Cenovus Energy from a hold rating to a sell rating in a research report on Thursday, October 27th. RBC Capital Markets reiterated an outperform rating and set a $23.00 target price on shares of Cenovus Energy in a research report on Wednesday, October 26th. Finally, Barclays PLC reiterated an overweight rating and set a $24.00 target price on shares of Cenovus Energy in a research report on Monday, October 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Cenovus Energy has a consensus rating of Buy and an average price target of $20.31.

Cenovus Energy (NYSE:CVE) opened at 14.49 on Monday. Cenovus Energy has a 12 month low of $9.10 and a 12 month high of $16.56. The stock’s market cap is $12.07 billion. The firm’s 50-day moving average price is $14.83 and its 200-day moving average price is $14.54.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.0376 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.15 annualized dividend and a yield of 1.02%. Cenovus Energy’s dividend payout ratio (DPR) is presently -12.93%.

A number of hedge funds and other institutional investors have recently modified their holdings of CVE. PNC Financial Services Group Inc. increased its position in shares of Cenovus Energy by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 9,147 shares of the company’s stock valued at $128,000 after buying an additional 1,059 shares during the period. Marshall Wace LLP acquired a new position in shares of Cenovus Energy during the second quarter valued at $141,000. Quantitative Investment Management LLC acquired a new position in shares of Cenovus Energy during the second quarter valued at $152,000. Trexquant Investment LP acquired a new position in shares of Cenovus Energy during the second quarter valued at $173,000. Finally, Blue Rock Advisors LLC acquired a new position in shares of Cenovus Energy during the third quarter valued at $179,000. Institutional investors own 67.22% of the company’s stock.

About Cenovus Energy

Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.

5 Day Chart for NYSE:CVE

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