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

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) have received an average rating of “Buy” from the five brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $26.67.

CVE has been the topic of a number of analyst reports. StockNews.com raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. UBS Group raised shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Morgan Stanley upped their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Friday, January 26th.

Cenovus Energy Trading Up 0.8 %

NYSE:CVE opened at $21.46 on Monday. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $40.02 billion, a PE ratio of 13.58 and a beta of 2.15. The firm’s 50 day moving average is $19.34 and its 200 day moving average is $18.06. Cenovus Energy has a 12 month low of $14.69 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. During the same quarter in the previous year, the firm posted $0.29 EPS. Sell-side analysts expect that Cenovus Energy will post 1.88 earnings per share for the current year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.1033 dividend. This represents a $0.41 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s dividend payout ratio is currently 25.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors grew its stake in shares of Cenovus Energy by 5.4% during the fourth quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock valued at $2,508,185,000 after buying an additional 7,750,480 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cenovus Energy by 1.4% in the third quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company’s stock worth $1,030,177,000 after purchasing an additional 690,057 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Cenovus Energy by 0.8% in the third quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company’s stock worth $986,334,000 after purchasing an additional 388,652 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Cenovus Energy by 26.5% in the fourth quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock worth $706,503,000 after purchasing an additional 8,841,374 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Cenovus Energy by 8.6% in the third quarter. Boston Partners now owns 29,412,644 shares of the oil and gas company’s stock worth $676,838,000 after purchasing an additional 2,325,082 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

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.