Shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) have earned an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $14.33.
CVE has been the subject of a number of research analyst reports. Scotiabank upgraded shares of Cenovus Energy from a “sector perform” rating to a “buy” rating in a report on Tuesday, October 30th. TD Securities upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Monday, October 22nd. TheStreet downgraded shares of Cenovus Energy from a “c-” rating to a “d+” rating in a report on Tuesday, October 2nd. Raymond James reiterated a “hold” rating on shares of Cenovus Energy in a report on Thursday. Finally, ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd.
Several institutional investors and hedge funds have recently made changes to their positions in CVE. CIBC Asset Management Inc increased its holdings in shares of Cenovus Energy by 51.7% in the 3rd quarter. CIBC Asset Management Inc now owns 19,301,225 shares of the oil and gas company’s stock valued at $193,660,000 after purchasing an additional 6,574,007 shares in the last quarter. Toronto Dominion Bank increased its holdings in Cenovus Energy by 101.7% during the 2nd quarter. Toronto Dominion Bank now owns 6,585,468 shares of the oil and gas company’s stock valued at $68,253,000 after acquiring an additional 3,321,205 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Cenovus Energy during the 2nd quarter valued at about $31,560,000. Lansdowne Partners UK LLP increased its holdings in Cenovus Energy by 115.0% during the 2nd quarter. Lansdowne Partners UK LLP now owns 4,306,044 shares of the oil and gas company’s stock valued at $44,697,000 after acquiring an additional 2,303,179 shares in the last quarter. Finally, Luminus Management LLC increased its holdings in Cenovus Energy by 132.5% during the 2nd quarter. Luminus Management LLC now owns 2,557,500 shares of the oil and gas company’s stock valued at $26,553,000 after acquiring an additional 1,457,500 shares in the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.
Shares of CVE opened at $8.75 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.75 billion, a PE ratio of -437.50 and a beta of 0.76. Cenovus Energy has a 52-week low of $7.09 and a 52-week high of $11.52.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a $0.0382 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, December 13th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is currently -750.00%.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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