Cenovus Energy Inc (NYSE:CVE) Receives $36.25 Average PT from Brokerages

Shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) have received an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $36.25.

A number of analysts have commented on the stock. Desjardins upgraded shares of Cenovus Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada increased their price objective on shares of Cenovus Energy from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, August 19th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in Cenovus Energy in the second quarter worth about $25,000. Transamerica Financial Advisors LLC boosted its position in shares of Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,433 shares in the last quarter. NBC Securities Inc. boosted its position in shares of Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 1,500 shares in the last quarter. Gables Capital Management Inc. acquired a new position in shares of Cenovus Energy in the 2nd quarter worth approximately $35,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Cenovus Energy in the 4th quarter worth approximately $38,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of CVE opened at $31.48 on Thursday. Cenovus Energy has a one year low of $15.63 and a one year high of $33.40. The stock’s fifty day moving average is $28.14 and its 200-day moving average is $26.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.63. The firm has a market capitalization of $58.22 billion, a price-to-earnings ratio of 12.11 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting the consensus estimate of $1.11. The business had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts anticipate that Cenovus Energy will post 3.2 EPS for the current year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Cenovus Energy’s dividend payout ratio (DPR) is 24.62%.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.