Other equities analysts also recently issued reports about the stock. AltaCorp Capital upgraded shares of Cenovus Energy from a sector perform rating to an outperform rating in a research note on Thursday, October 31st. TheStreet raised shares of Cenovus Energy from a d+ rating to a c rating in a research note on Wednesday, November 6th. Morgan Stanley downgraded shares of Cenovus Energy from an equal rating to an equal weight rating in a research note on Tuesday, October 22nd. TD Securities restated a buy rating and set a $16.50 target price on shares of Cenovus Energy in a report on Thursday. Finally, Royal Bank of Canada reaffirmed a buy rating on shares of Cenovus Energy in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $14.71.
Shares of NYSE:CVE traded down $0.07 during trading hours on Thursday, hitting $8.91. The company’s stock had a trading volume of 3,139,800 shares, compared to its average volume of 4,094,255. Cenovus Energy has a 52 week low of $7.67 and a 52 week high of $10.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.60. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 1.76 and a beta of 1.01. The firm’s fifty day moving average price is $9.42 and its 200 day moving average price is $9.11.
Several large investors have recently added to or reduced their stakes in the company. Pacifica Partners Inc. purchased a new position in shares of Cenovus Energy in the 4th quarter worth approximately $25,000. Marshall Wace LLP bought a new position in shares of Cenovus Energy during the 1st quarter worth approximately $25,000. Atlas Capital Advisors LLC raised its stake in shares of Cenovus Energy by 45.4% during the 3rd quarter. Atlas Capital Advisors LLC now owns 4,998 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 1,560 shares in the last quarter. Evoke Wealth LLC purchased a new stake in Cenovus Energy during the third quarter valued at approximately $94,000. Finally, United Services Automobile Association purchased a new stake in Cenovus Energy during the second quarter valued at approximately $98,000. Institutional investors and hedge funds own 77.08% of the company’s stock.
Cenovus Energy Company Profile
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 in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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