Cenovus Energy Inc (NYSE:CVE) (TSE:CVE)’s share price fell 1.1% during trading on Thursday . The company traded as low as $8.77 and last traded at $8.95. 295,105 shares changed hands during trading, a decline of 93% from the average session volume of 4,042,749 shares. The stock had previously closed at $8.85.

A number of brokerages recently commented on CVE. Morgan Stanley raised their target price on Cenovus Energy from $13.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, May 23rd. BMO Capital Markets upgraded Cenovus Energy from a “market perform” rating to an “outperform” rating and raised their target price for the company from $15.00 to $17.00 in a report on Thursday, May 17th. National Bank Financial upgraded Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Thursday, May 31st. ValuEngine upgraded Cenovus Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Macquarie upgraded Cenovus Energy from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.08.

The company has a quick ratio of 0.81, a current ratio of 1.17 and a debt-to-equity ratio of 0.53. The company has a market cap of $12.20 billion, a PE ratio of -443.50 and a beta of 0.66.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.21). The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Cenovus Energy had a negative net margin of 2.56% and a negative return on equity of 6.66%. During the same quarter in the previous year, the business posted $0.36 EPS. analysts expect that Cenovus Energy Inc will post -0.3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, September 13th. Cenovus Energy’s payout ratio is presently -750.00%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Aperio Group LLC boosted its stake in shares of Cenovus Energy by 63.9% in the 1st quarter. Aperio Group LLC now owns 220,727 shares of the oil and gas company’s stock valued at $1,885,000 after buying an additional 86,030 shares during the period. LPL Financial LLC purchased a new position in shares of Cenovus Energy in the 1st quarter valued at about $560,000. Guggenheim Capital LLC boosted its stake in shares of Cenovus Energy by 13.0% in the 1st quarter. Guggenheim Capital LLC now owns 541,746 shares of the oil and gas company’s stock valued at $4,623,000 after buying an additional 62,283 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Cenovus Energy in the 2nd quarter valued at about $819,000. Finally, Sentry Investments Corp. purchased a new position in shares of Cenovus Energy in the 1st quarter valued at about $1,812,000. Institutional investors and hedge funds own 73.64% of the company’s stock.

Cenovus Energy Company Profile (NYSE:CVE)

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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