Barclays PLC reissued their overweight rating on shares of Cenovus Energy Inc. (NYSE:CVE) in a report issued on Monday morning. Barclays PLC currently has a $24.00 price objective on the stock.
Several other research analysts have also commented on the company. Zacks Investment Research upgraded Cenovus Energy from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Tuesday, August 2nd. Scotiabank reiterated an outperform rating and set a $20.00 price target on shares of Cenovus Energy in a report on Sunday, July 31st. Bank of America Corp. started coverage on Cenovus Energy in a report on Friday, August 19th. They set a neutral rating and a $17.00 price target on the stock. TD Securities reiterated a buy rating and set a $21.00 price target on shares of Cenovus Energy in a report on Sunday, July 31st. Finally, Nomura reiterated a hold rating on shares of Cenovus Energy in a report on Monday, September 26th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $20.00.
Shares of Cenovus Energy (NYSE:CVE) opened at 15.51 on Monday. The stock has a 50 day moving average of $14.39 and a 200-day moving average of $14.38. Cenovus Energy has a 12-month low of $9.10 and a 12-month high of $16.81. The company has a market capitalization of $12.92 billion, a PE ratio of 22.16 and a beta of 0.81.
Cenovus Energy (NYSE:CVE) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Cenovus Energy had a negative return on equity of 7.35% and a net margin of 6.97%. During the same quarter last year, the firm posted $0.18 EPS. Analysts predict that Cenovus Energy will post ($0.59) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.0378 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, September 13th. Cenovus Energy’s dividend payout ratio is presently 20.83%.
Institutional investors have recently made changes to their positions in the company. Avalon Advisors LLC increased its position in shares of Cenovus Energy by 42.8% in the first quarter. Avalon Advisors LLC now owns 45,088 shares of the company’s stock worth $586,000 after buying an additional 13,520 shares in the last quarter. Seven Eight Capital LLC bought a new position in shares of Cenovus Energy during the first quarter worth approximately $261,000. Barclays PLC increased its position in shares of Cenovus Energy by 35.3% in the first quarter. Barclays PLC now owns 46,876 shares of the company’s stock worth $610,000 after buying an additional 12,241 shares in the last quarter. Legal & General Group Plc increased its position in shares of Cenovus Energy by 3.8% in the first quarter. Legal & General Group Plc now owns 3,908,240 shares of the company’s stock worth $51,070,000 after buying an additional 142,508 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Cenovus Energy by 184.8% in the first quarter. Renaissance Technologies LLC now owns 2,201,800 shares of the company’s stock worth $28,624,000 after buying an additional 1,428,700 shares in the last quarter. 67.80% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy Company Profile