Cenovus Energy (CVE) Shares Gap Down to $9.18

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE)’s share price gapped down before the market opened on Friday . The stock had previously closed at $9.42, but opened at $9.18. Cenovus Energy shares last traded at $8.94, with a volume of 4225931 shares.

Several equities analysts recently commented on CVE shares. Scotiabank upgraded Cenovus Energy from a “sector perform” rating to a “buy” rating in a research report on Tuesday, October 30th. Raymond James restated a “hold” rating on shares of Cenovus Energy in a research report on Thursday, November 1st. Tudor Pickering cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. ValuEngine upgraded Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, TD Securities upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.33.

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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a $0.0382 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, December 13th. Cenovus Energy’s dividend payout ratio is presently -750.00%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Cenovus Energy by 14.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 247,704 shares of the oil and gas company’s stock worth $2,348,000 after purchasing an additional 30,610 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cenovus Energy by 40.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 638,745 shares of the oil and gas company’s stock valued at $6,409,000 after acquiring an additional 184,273 shares during the period. FIL Ltd boosted its holdings in Cenovus Energy by 2.3% during the 3rd quarter. FIL Ltd now owns 49,490,561 shares of the oil and gas company’s stock valued at $496,954,000 after acquiring an additional 1,113,738 shares during the period. BlackRock Inc. boosted its holdings in Cenovus Energy by 1.7% during the 3rd quarter. BlackRock Inc. now owns 552,037 shares of the oil and gas company’s stock valued at $5,537,000 after acquiring an additional 9,356 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Cenovus Energy by 40.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 67,811 shares of the oil and gas company’s stock valued at $680,000 after acquiring an additional 19,394 shares during the period. Hedge funds and other institutional investors own 74.04% of the company’s stock.

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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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