Cenovus Energy Inc (CVE) Receives $15.10 Average Target Price from Brokerages

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) has been given a consensus rating of “Hold” by the seventeen analysts that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.10.

Several brokerages have weighed in on CVE. Zacks Investment Research cut Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Monday. Scotiabank cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, November 15th. AltaCorp Capital cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 9th. Canaccord Genuity reissued a “buy” rating and set a $15.50 price objective on shares of Cenovus Energy in a research note on Monday, October 30th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $15.00 price objective on shares of Cenovus Energy in a research note on Monday, October 16th.

Shares of Cenovus Energy (NYSE:CVE) traded up $0.48 during midday trading on Monday, reaching $10.94. The company’s stock had a trading volume of 4,489,800 shares, compared to its average volume of 3,840,000. The company has a quick ratio of 1.10, a current ratio of 1.41 and a debt-to-equity ratio of 0.62. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $15.21. The company has a market capitalization of $13,430.00, a PE ratio of 4.80 and a beta of 0.62.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a dividend of $0.039 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.43%. Cenovus Energy’s dividend payout ratio is 7.02%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new position in shares of Cenovus Energy during the third quarter valued at approximately $106,000. Timber Hill LLC bought a new position in shares of Cenovus Energy during the third quarter valued at approximately $114,000. First Allied Advisory Services Inc. bought a new position in shares of Cenovus Energy during the third quarter valued at approximately $125,000. Cutler Capital Management LLC bought a new position in shares of Cenovus Energy during the third quarter valued at approximately $125,000. Finally, Point View Wealth Management Inc. bought a new position in shares of Cenovus Energy during the third quarter valued at approximately $133,000. 56.78% of the stock is currently owned by hedge funds and other institutional investors.

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About Cenovus Energy

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