Todays Report: The Cenovus Energy’s (CVE) “Hold” Rating Reiterate at TD Securities

The Cenovus Energy’s (CVE) “Hold” Rating Reiterate at TD Securities

TD Securities reaffirmed their hold rating on shares of Cenovus Energy Inc. (NYSE:CVE) in a research note released on Saturday morning. They currently have a $21.00 price objective on the stock.

Several other equities research analysts have also recently commented on the company. Barclays PLC reaffirmed an overweight rating and set a $24.00 target price on shares of Cenovus Energy in a research report on Monday, October 10th. Bank of America Corp. initiated coverage on Cenovus Energy in a research report on Friday, August 19th. They set a neutral rating and a $17.00 target price for the company. Zacks Investment Research cut Cenovus Energy from a buy rating to a hold rating in a research report on Wednesday, September 28th. Nomura reaffirmed a hold rating on shares of Cenovus Energy in a research report on Monday, September 26th. Finally, Scotiabank reaffirmed an outperform rating and set a $20.00 target price on shares of Cenovus Energy in a research report on Sunday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Cenovus Energy has a consensus rating of Buy and a consensus price target of $20.31.

Shares of Cenovus Energy (NYSE:CVE) traded down 3.36% during mid-day trading on Friday, hitting $14.96. 2,488,758 shares of the company were exchanged. Cenovus Energy has a 12-month low of $9.10 and a 12-month high of $16.68. The stock’s 50-day moving average price is $14.58 and its 200 day moving average price is $14.58. The stock has a market cap of $12.47 billion, a PE ratio of 21.59 and a beta of 0.81.

Cenovus Energy (NYSE:CVE) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Cenovus Energy had a negative return on equity of 9.25% and a negative net margin of 11.17%. During the same period in the previous year, the business posted $0.18 earnings per share. On average, equities analysts anticipate that Cenovus Energy will post ($0.54) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp raised its position in shares of Cenovus Energy by 4.8% in the first quarter. M&T Bank Corp now owns 12,881 shares of the company’s stock worth $168,000 after buying an additional 589 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Cenovus Energy by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,867,617 shares of the company’s stock valued at $24,402,000 after buying an additional 5,137 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Cenovus Energy by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,395,765 shares of the company’s stock valued at $31,145,000 after buying an additional 890,838 shares in the last quarter. Renaissance Technologies LLC raised its position in Cenovus Energy by 184.8% in the first quarter. Renaissance Technologies LLC now owns 2,201,800 shares of the company’s stock valued at $28,624,000 after buying an additional 1,428,700 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Cenovus Energy by 3.8% in the first quarter. Legal & General Group Plc now owns 3,908,240 shares of the company’s stock valued at $51,070,000 after buying an additional 142,508 shares in the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

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