UBS Group started coverage on shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) in a research report sent to investors on Wednesday morning, www.benzinga.com reports. The firm issued a neutral rating on the oil and gas company’s stock.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Cenovus Energy from a hold rating to a sell rating in a research note on Monday, January 8th. Scotiabank cut shares of Cenovus Energy from an outperform rating to a sector perform rating in a research note on Wednesday, November 15th. AltaCorp Capital cut shares of Cenovus Energy from an outperform rating to a sector perform rating in a research note on Thursday, November 9th. Desjardins reiterated a hold rating on shares of Cenovus Energy in a research note on Friday, January 12th. Finally, ValuEngine cut shares of Cenovus Energy from a hold rating to a sell rating in a research note on Saturday, February 17th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $14.42.
Cenovus Energy (NYSE:CVE) opened at $8.17 on Wednesday. The company has a market cap of $10,039.21, a price-to-earnings ratio of 3.57, a P/E/G ratio of 7.11 and a beta of 0.86. Cenovus Energy has a one year low of $6.76 and a one year high of $13.32. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.82 and a current ratio of 1.13.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.0398 dividend. This represents a $0.16 annualized dividend and a yield of 1.95%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s payout ratio is 6.99%.
Institutional investors have recently made changes to their positions in the business. Sowell Financial Services LLC bought a new stake in Cenovus Energy in the 3rd quarter valued at $106,000. Timber Hill LLC bought a new stake in Cenovus Energy in the 3rd quarter valued at $114,000. First Allied Advisory Services Inc. bought a new stake in Cenovus Energy in the 3rd quarter valued at $125,000. Cutler Capital Management LLC bought a new stake in Cenovus Energy in the 3rd quarter valued at $125,000. Finally, Point View Wealth Management Inc. bought a new stake in Cenovus Energy in the 3rd quarter valued at $133,000. 75.28% of the stock is currently owned by hedge funds and other institutional investors.
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About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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