Cenovus Energy’s (CVE) “Buy” Rating Reaffirmed at Credit Suisse Group

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Credit Suisse Group reiterated their buy rating on shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) in a research note released on Wednesday morning, AnalystRatings.com reports. The firm currently has a $8.00 price target on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Scotiabank cut shares of Cenovus Energy from an outperform rating to a sector perform rating and set a $6.50 target price for the company. in a research note on Thursday, June 11th. ValuEngine upgraded shares of Cenovus Energy from a hold rating to a buy rating in a research note on Friday, May 1st. Zacks Investment Research cut shares of Cenovus Energy from a hold rating to a sell rating and set a $4.00 target price for the company. in a research note on Monday, May 11th. Tudor Pickering reiterated a hold rating on shares of Cenovus Energy in a research note on Wednesday, April 29th. Finally, TheStreet cut shares of Cenovus Energy from a c rating to a d rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $9.20.

CVE stock opened at $4.46 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.23 and a quick ratio of 0.72. Cenovus Energy has a 52-week low of $1.41 and a 52-week high of $10.82. The company has a 50-day moving average of $4.62 and a two-hundred day moving average of $5.14. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -4.29 and a beta of 2.67.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Wednesday, April 29th. The oil and gas company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.53). Cenovus Energy had a negative net margin of 10.63% and a negative return on equity of 8.03%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.23 billion. Equities analysts expect that Cenovus Energy will post -1.31 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVE. Marshall Wace LLP purchased a new stake in Cenovus Energy during the first quarter worth about $25,000. Stifel Financial Corp purchased a new stake in Cenovus Energy during the fourth quarter worth about $796,000. Janus Henderson Group PLC increased its holdings in Cenovus Energy by 109.8% during the fourth quarter. Janus Henderson Group PLC now owns 527,084 shares of the oil and gas company’s stock worth $5,366,000 after buying an additional 275,900 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Cenovus Energy by 25.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,213,042 shares of the oil and gas company’s stock worth $12,312,000 after buying an additional 243,929 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Cenovus Energy by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 1,473,601 shares of the oil and gas company’s stock worth $14,866,000 after buying an additional 186,325 shares during the last quarter. Institutional investors and hedge funds own 75.79% 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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Analyst Recommendations for Cenovus Energy (NYSE:CVE)

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