Canaccord Genuity Reaffirms "Buy" Rating for Cenovus Energy Inc (CVE)

Cenovus Energy Inc

Cenovus Energy Inc

They now have a sector perform rating on the stock.

Several other research firms have also commented on CVE. UBS AG lowered Cenovus Energy from a market perform rating to an underperform rating in a research report on Wednesday, July 5th. Barclays PLC reaffirmed an "overweight" rating and issued a $24.00 price objective on shares of Cenovus Energy in a research note on Monday, October 10th. Nomura reissued a "hold" rating on shares of Cenovus Energy in a report on Monday, September 26th.

In addition to ValuEngine reporting its stock price target, a total of 11 brokerages have issued a ratings update on Cenovus Energy Inc (USA). Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $16.06.

Cenovus Energy Inc shares had a trading volume of 73K by the end of trading on Tuesday. Overall, volume was down 96.06% under the stocks normal daily volume. The company's 50 day moving average is $9.49 and its 200 day moving average is $8.82.

The company now has a P/E ratio of 3.96 and market cap is 11.91B.

Cenovus Energy Inc (USA) has 52 week low of $6.76 and a 52 week high of $16.82 with a P/E ratio of 4.04 and has a market cap of $0.

Cenovus Energy (CVE) traded down 1.00% during mid-day trading on Thursday, hitting $9.91. The oil and gas company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.03 by $0.24. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. Next quarter's EPS is forecasted at $0.12 and the next full year EPS is projected to be $0.14.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.039 per share. The ex-dividend date was Thursday the 14th of September 2017. The value of the investment in CVE went from $100,000 to $129,000 increasing 29.0% quarter over quarter. This dividend amount was represent a yield of $1.61. Cenovus Energy's dividend payout ratio is presently -12.93%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can now owns 23,146,668 shares of the company's stock valued at $332,617,000 after buying an additional 2,188,441 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Cenovus Energy by 15.1% during the 2nd quarter. TD Asset Management Inc. now owns 43,148,765 shares of the oil and gas company's stock valued at $317,627,000 after buying an additional 2,169,650 shares in the last quarter. Quantitative Investment Management LLC purchased a new stake in shares of Cenovus Energy during the second quarter valued at $14,036,000. As of quarter end Dorchester Wealth Management Co had bought 18,732 shares growing its stake by 4.0%. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company's stock valued at $199,920,000 after buying an additional 7,354,590 shares in the last quarter.

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