Recent Research Analysts’ Ratings Changes for Cenovus Energy (CVE)

Several analysts have recently updated their ratings and price targets for Cenovus Energy (NYSE: CVE):

  • 11/20/2018 – Cenovus Energy had its price target lowered by analysts at Morgan Stanley from $17.00 to $15.00. They now have an “equal weight” rating on the stock.
  • 11/13/2018 – Cenovus Energy had its “buy” rating reaffirmed by analysts at Zacks Investment Research. They now have a $9.25 price target on the stock. According to Zacks, “Cenovus Energy has operations in the prospective oil sands development in Alberta, where it has been employing a specialized technique for drilling and pumping crude out of the surface. The company is presently operating the Christina Lake and Foster Creek oil sands projects, and gained regulatory approvals for additional developments like Narrows Lake and Telephone Lake, which will further boost its crude output. Moreover, its management has not been shy of divesting assets, particularly those that do not fit into the company’s long-term growth plan. On top of that, the company has been strongly committed in persistently returning cash back to the shareholders. Cenovus Energy paid $175 million dividend through 2017, higher almost 40% year over year. Moreover, the company increased dividend payments through the first half of 2018 by 11.3%.”
  • 11/1/2018 – Cenovus Energy had its “hold” rating reaffirmed by analysts at Raymond James.
  • 10/30/2018 – Cenovus Energy was upgraded by analysts at Scotiabank from a “sector perform” rating to a “buy” rating.
  • 10/22/2018 – Cenovus Energy was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating.
  • 10/16/2018 – Cenovus Energy had its “hold” rating reaffirmed by analysts at Canaccord Genuity.
  • 10/5/2018 – Cenovus Energy is now covered by analysts at CIBC. They set a “sector outperform” rating on the stock.
  • 10/2/2018 – Cenovus Energy was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/2/2018 – Cenovus Energy was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating.

Shares of NYSE CVE traded down $0.56 during trading hours on Tuesday, hitting $7.47. 411,508 shares of the stock were exchanged, compared to its average volume of 4,722,710. The company has a quick ratio of 0.91, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a market cap of $9.97 billion, a PE ratio of -373.50 and a beta of 0.76. Cenovus Energy Inc has a 12 month low of $7.09 and a 12 month high of $11.47.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a dividend of $0.0382 per share. This represents a $0.15 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, December 13th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s payout ratio is -750.00%.

A number of institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. increased its stake in Cenovus Energy by 10.0% during the 2nd quarter. D.A. Davidson & CO. now owns 66,107 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 6,001 shares in the last quarter. United Services Automobile Association increased its stake in Cenovus Energy by 46.5% during the 2nd quarter. United Services Automobile Association now owns 21,948 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 6,969 shares in the last quarter. Oxbow Advisors LLC increased its stake in Cenovus Energy by 3.2% during the 2nd quarter. Oxbow Advisors LLC now owns 228,160 shares of the oil and gas company’s stock valued at $2,368,000 after purchasing an additional 7,160 shares in the last quarter. Blume Capital Management Inc. increased its stake in Cenovus Energy by 375.5% during the 3rd quarter. Blume Capital Management Inc. now owns 10,181 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 8,040 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Cenovus Energy by 12.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 77,620 shares of the oil and gas company’s stock valued at $779,000 after purchasing an additional 8,806 shares in the last quarter. Institutional investors and hedge funds own 72.94% of the company’s stock.

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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