Cenovus Energy Inc. (NYSE:CVE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $25.75.

A number of analysts have recently issued reports on the company. National Bankshares reaffirmed a “sector perform” rating on shares of Cenovus Energy in a research note on Friday, April 25th. Veritas downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 14th. The Goldman Sachs Group reduced their target price on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Finally, National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st.

Institutional Trading of Cenovus Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors lifted its holdings in shares of Cenovus Energy by 15.8% in the 4th quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock valued at $2,901,131,000 after purchasing an additional 26,127,617 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cenovus Energy by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company’s stock valued at $757,213,000 after purchasing an additional 4,401,045 shares during the last quarter. Capital International Investors raised its stake in Cenovus Energy by 0.7% during the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company’s stock valued at $811,769,000 after acquiring an additional 382,519 shares during the last quarter. Mackenzie Financial Corp lifted its position in Cenovus Energy by 56.5% during the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock worth $270,742,000 after acquiring an additional 7,035,004 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cenovus Energy by 33.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company’s stock worth $241,513,000 after acquiring an additional 4,362,384 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $13.64 on Tuesday. Cenovus Energy has a one year low of $10.23 and a one year high of $21.08. The company has a market capitalization of $24.86 billion, a PE ratio of 11.27 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a 50-day simple moving average of $12.68 and a two-hundred day simple moving average of $14.09.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The company had revenue of $11.15 billion during the quarter, compared to analysts’ expectations of $12.39 billion. During the same period last year, the business posted $0.62 earnings per share. Research analysts expect that Cenovus Energy will post 1.49 EPS for the current fiscal year.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.