A number of other research firms also recently commented on CVE. Jefferies Financial Group started coverage on Cenovus Energy in a report on Wednesday, October 19th. They issued a buy rating on the stock. The Goldman Sachs Group downgraded Cenovus Energy from a buy rating to a neutral rating and set a $23.00 price objective on the stock. in a report on Monday. National Bank Financial decreased their target price on Cenovus Energy from C$38.00 to C$36.00 in a research report on Friday, September 30th. Raymond James upped their target price on Cenovus Energy from C$30.00 to C$32.00 in a research report on Thursday, November 3rd. Finally, Royal Bank of Canada upped their target price on Cenovus Energy from C$31.00 to C$32.00 in a research report on Thursday, November 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $29.56.
Cenovus Energy Price Performance
Shares of CVE opened at $20.26 on Monday. The company has a market capitalization of $38.88 billion, a price-to-earnings ratio of 10.08 and a beta of 2.33. Cenovus Energy has a fifty-two week low of $10.72 and a fifty-two week high of $24.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.55 and a quick ratio of 1.00. The business’s 50-day moving average is $18.77 and its 200-day moving average is $19.17.
Cenovus Energy Cuts Dividend
Institutional Investors Weigh In On Cenovus Energy
Several hedge funds have recently modified their holdings of CVE. GQG Partners LLC bought a new stake in shares of Cenovus Energy in the second quarter valued at approximately $609,445,000. Egerton Capital UK LLP bought a new stake in shares of Cenovus Energy in the second quarter valued at approximately $348,567,000. Point72 Asset Management L.P. bought a new stake in shares of Cenovus Energy in the third quarter valued at approximately $130,292,000. Wellington Management Group LLP boosted its position in shares of Cenovus Energy by 68.8% in the first quarter. Wellington Management Group LLP now owns 19,871,360 shares of the oil and gas company’s stock valued at $331,500,000 after acquiring an additional 8,098,474 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Cenovus Energy by 67.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,233,363 shares of the oil and gas company’s stock valued at $320,528,000 after acquiring an additional 7,734,187 shares during the period. 50.30% of the stock is owned by institutional investors.
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, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.
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