AltaCorp Capital Downgrades Cenovus Energy (CVE) to Sector Perform

Share on StockTwits

AltaCorp Capital downgraded shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from an outperform rating to a sector perform rating in a research note published on Monday morning.

CVE has been the topic of several other research reports. TD Securities boosted their price objective on shares of Cenovus Energy from C$14.00 to C$15.00 and gave the stock a buy rating in a report on Thursday, November 1st. GMP Securities dropped their price objective on shares of Cenovus Energy from C$17.00 to C$14.00 in a report on Thursday, December 13th. Raymond James boosted their price objective on shares of Cenovus Energy from C$16.00 to C$17.00 in a report on Friday, October 5th. Canaccord Genuity dropped their price objective on shares of Cenovus Energy from C$15.00 to C$14.00 in a report on Tuesday, October 16th. Finally, CIBC dropped their price objective on shares of Cenovus Energy from C$17.00 to C$14.50 in a report on Thursday, November 22nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of C$15.43.

TSE:CVE opened at C$10.85 on Monday. Cenovus Energy has a 52-week low of C$8.74 and a 52-week high of C$14.84. The company has a debt-to-equity ratio of 52.75, a quick ratio of 0.80 and a current ratio of 1.26.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Wednesday, October 31st. The company reported C($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.22 by C($0.42). The firm had revenue of C$6.14 billion for the quarter, compared to the consensus estimate of C$5.77 billion. As a group, equities analysts expect that Cenovus Energy will post 0.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, December 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.84%. Cenovus Energy’s payout ratio is currently -35.46%.

In other Cenovus Energy news, insider Jonathan Michael Mckenzie bought 25,000 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were acquired at an average price of C$10.23 per share, with a total value of C$255,750.00. Also, insider Alan Craig Reid bought 5,000 shares of the stock in a transaction that occurred on Thursday, December 13th. The stock was acquired at an average cost of C$10.56 per share, for a total transaction of C$52,800.00. In the last three months, insiders purchased 37,121 shares of company stock worth $364,051.

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 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.

Recommended Story: What does RSI mean?

Analyst Recommendations for Cenovus Energy (TSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Verity & Verity LLC Buys 13,940 Shares of KeyCorp
Verity & Verity LLC Buys 13,940 Shares of KeyCorp
Verity & Verity LLC Has $4.72 Million Position in Arthur J Gallagher & Co
Verity & Verity LLC Has $4.72 Million Position in Arthur J Gallagher & Co
Standard Motor Products, Inc.  Expected to Post Quarterly Sales of $247.02 Million
Standard Motor Products, Inc. Expected to Post Quarterly Sales of $247.02 Million
Bankcoin  Price Tops $0.0004 on Exchanges
Bankcoin Price Tops $0.0004 on Exchanges
Dover Corp  Shares Sold by Fruth Investment Management
Dover Corp Shares Sold by Fruth Investment Management
CKW Financial Group Increases Position in Apache Co.
CKW Financial Group Increases Position in Apache Co.


Leave a Reply

© 2006-2019 Ticker Report