Cenovus Energy’s (CVE) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) in a research note published on Tuesday morning, Marketbeat reports.

A number of other analysts have also recently issued reports on CVE. BMO Capital Markets set a $29.00 target price on shares of Cenovus Energy in a research note on Monday, November 17th. The Goldman Sachs Group began coverage on shares of Cenovus Energy in a report on Friday, January 2nd. They issued a “buy” rating and a $20.00 price target on the stock. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a report on Thursday, November 20th. Royal Bank Of Canada increased their target price on Cenovus Energy from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Finally, Zacks Research raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Cenovus Energy Stock Performance

Shares of NYSE CVE opened at $18.44 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $34.73 billion, a P/E ratio of 15.11 and a beta of 0.49. Cenovus Energy has a 12 month low of $10.23 and a 12 month high of $18.75. The stock has a 50 day moving average of $17.46 and a 200-day moving average of $16.65.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.The business had revenue of $10.87 billion for the quarter, compared to analysts’ expectations of $12.51 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. As a group, equities research analysts predict that Cenovus Energy will post 1.49 EPS for the current year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. Cenovus Energy’s dividend payout ratio is currently 46.72%.

Institutional Trading of Cenovus Energy

A number of institutional investors have recently modified their holdings of CVE. Ridgewood Investments LLC bought a new position in shares of Cenovus Energy in the second quarter worth $27,000. Atlantic Union Bankshares Corp acquired a new stake in Cenovus Energy during the second quarter worth about $27,000. Allworth Financial LP increased its holdings in Cenovus Energy by 104.3% in the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,168 shares during the period. Geneos Wealth Management Inc. increased its holdings in Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 1,384 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Cenovus Energy in the 3rd quarter valued at approximately $50,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.