Cenovus Energy Inc (CVE) Given Consensus Recommendation of “Hold” by Analysts

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has been given an average rating of “Hold” by the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $15.10.

Several analysts have weighed in on CVE shares. Canaccord Genuity reiterated a “buy” rating and set a $14.00 target price on shares of Cenovus Energy in a research note on Tuesday, September 5th. Zacks Investment Research lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $15.00 target price on shares of Cenovus Energy in a research note on Monday, October 16th. Morgan Stanley set a $15.00 target price on shares of Cenovus Energy and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 28th.

Shares of Cenovus Energy (NYSE CVE) opened at $10.16 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.41 and a debt-to-equity ratio of 0.62. The stock has a market cap of $12,484.51, a price-to-earnings ratio of 14.51, a P/E/G ratio of 2.98 and a beta of 0.62. Cenovus Energy has a 12 month low of $6.76 and a 12 month high of $16.82.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.039 dividend. This represents a $0.16 annualized dividend and a yield of 1.54%. The ex-dividend date is Thursday, December 14th. Cenovus Energy’s payout ratio is currently 8.08%.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Cenovus Energy by 23.7% in the second quarter. FMR LLC now owns 54,026,588 shares of the oil and gas company’s stock worth $398,284,000 after purchasing an additional 10,341,993 shares during the period. TD Asset Management Inc. lifted its holdings in Cenovus Energy by 1.6% in the 3rd quarter. TD Asset Management Inc. now owns 43,832,015 shares of the oil and gas company’s stock valued at $438,407,000 after acquiring an additional 683,250 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Cenovus Energy by 1.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 32,113,640 shares of the oil and gas company’s stock valued at $236,678,000 after acquiring an additional 437,897 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its holdings in Cenovus Energy by 37.1% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company’s stock valued at $199,920,000 after acquiring an additional 7,354,590 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its holdings in Cenovus Energy by 49.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 25,289,102 shares of the oil and gas company’s stock valued at $186,301,000 after acquiring an additional 8,322,165 shares during the last quarter. 54.01% of the stock is owned by institutional investors and hedge funds.

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Cenovus Energy Company Profile

Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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