Cenovus Energy Inc. (NYSE:CVE) Given Average Rating of “Buy” by Brokerages

Shares of Cenovus Energy Inc. (NYSE:CVEGet Rating) (TSE:CVE) have earned an average rating of “Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $29.89.

A number of equities analysts have commented on the company. Jefferies Financial Group assumed coverage on Cenovus Energy in a research note on Wednesday, October 19th. They issued a “buy” rating on the stock. Credit Suisse Group reaffirmed an “outperform” rating and set a $37.00 price target on shares of Cenovus Energy in a research note on Thursday, August 11th. Scotiabank cut their price target on Cenovus Energy from C$34.00 to C$33.00 in a research note on Thursday, October 13th. National Bank Financial cut their price target on Cenovus Energy from C$38.00 to C$36.00 in a research note on Friday, September 30th. Finally, Raymond James upped their price target on Cenovus Energy from C$30.00 to C$32.00 in a research note on Thursday, November 3rd.

Institutional Investors Weigh In On Cenovus Energy

Several large investors have recently modified their holdings of the business. Tompkins Financial Corp bought a new position in shares of Cenovus Energy during the first quarter worth about $25,000. Anson Funds Management LP bought a new position in shares of Cenovus Energy during the first quarter worth about $27,000. Washington Trust Advisors Inc. grew its holdings in shares of Cenovus Energy by 153.1% during the second quarter. Washington Trust Advisors Inc. now owns 1,488 shares of the oil and gas company’s stock worth $28,000 after buying an additional 900 shares in the last quarter. Venture Visionary Partners LLC acquired a new position in Cenovus Energy during the second quarter valued at approximately $31,000. Finally, AllSquare Wealth Management LLC acquired a new position in Cenovus Energy during the first quarter valued at approximately $32,000. 50.30% of the stock is currently owned by institutional investors.

Cenovus Energy Price Performance

Shares of CVE stock opened at $20.64 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.55 and a quick ratio of 1.00. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 10.27 and a beta of 2.33. The stock’s fifty day simple moving average is $18.62 and its 200 day simple moving average is $19.15. Cenovus Energy has a one year low of $10.72 and a one year high of $24.91.

Cenovus Energy Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a $0.114 dividend. The ex-dividend date is Thursday, November 17th. Cenovus Energy’s dividend payout ratio is presently 15.92%.

Cenovus Energy Company Profile

(Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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