Cenovus Energy Inc. (NYSE:CVE) Receives Average Recommendation of “Moderate Buy” from Analysts

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $30.00.

A number of research analysts recently commented on CVE shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research note on Monday, January 6th. BMO Capital Markets dropped their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th.

Cenovus Energy Stock Down 0.4 %

Shares of CVE opened at $15.31 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy has a 12 month low of $13.76 and a 12 month high of $21.90. The firm’s 50 day moving average is $14.98 and its 200-day moving average is $16.40. The stock has a market capitalization of $27.93 billion, a PE ratio of 10.56 and a beta of 1.99.

Institutional Trading of Cenovus Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Smead Capital Management Inc. boosted its holdings in shares of Cenovus Energy by 39.3% during the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after acquiring an additional 4,351,960 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in Cenovus Energy in the third quarter valued at about $11,569,000. Entropy Technologies LP acquired a new stake in shares of Cenovus Energy during the third quarter valued at about $3,472,000. Assenagon Asset Management S.A. grew its holdings in shares of Cenovus Energy by 1,289.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company’s stock worth $6,526,000 after purchasing an additional 399,787 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Cenovus Energy by 44.1% in the third quarter. Two Sigma Advisers LP now owns 1,284,600 shares of the oil and gas company’s stock valued at $21,491,000 after buying an additional 393,100 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.