Cenovus Energy’s (CVE) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) in a report published on Thursday morning,Weiss Ratings reports.

CVE has been the topic of several other research reports. Zacks Research upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Jefferies Financial Group reissued a “buy” rating on shares of Cenovus Energy in a report on Tuesday, September 2nd. TD Securities reissued a “buy” rating on shares of Cenovus Energy in a report on Tuesday, September 30th. Wall Street Zen raised Cenovus Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, UBS Group reissued a “buy” rating on shares of Cenovus Energy in a report on Monday, August 25th. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Cenovus Energy presently has a consensus rating of “Buy” and a consensus target price of $21.00.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $16.93 on Thursday. The stock’s fifty day moving average price is $17.04 and its 200-day moving average price is $14.95. Cenovus Energy has a 12 month low of $10.23 and a 12 month high of $18.60. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. The firm has a market cap of $29.89 billion, a P/E ratio of 16.76 and a beta of 0.92.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.12. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The company had revenue of $10.87 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts expect that Cenovus Energy will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, December 15th. Cenovus Energy’s payout ratio is presently 57.43%.

Institutional Trading of Cenovus Energy

Several large investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new position in Cenovus Energy during the 2nd quarter worth about $27,000. Atlantic Union Bankshares Corp purchased a new stake in Cenovus Energy during the 2nd quarter worth about $27,000. Allworth Financial LP increased its holdings in Cenovus Energy by 104.3% during the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,168 shares during the period. Cromwell Holdings LLC increased its holdings in Cenovus Energy by 1,165.1% during the 1st quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 2,808 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Cenovus Energy during the 1st quarter worth about $42,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

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.