Economy

Cenovus Energy Inc (CVE) Given Consensus Recommendation of "Hold" by Brokerages

Cenovus Energy Inc (CVE) Given Consensus Recommendation of

The firm owned 58,304 shares of the company's stock after selling 143,628 shares during the period. Bank of Nova Scotia Trust Co. raised its position in shares of Cenovus Energy by 2.6% in the second quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC now owns 32,850,699 shares of the company's stock worth $496,681,000 after buying an additional 555,185 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Cenovus Energy by 0.4% in the fourth quarter. Loews Corp raised its position in shares of Cenovus Energy by 12.3% in the second quarter. (NYSE:BAM) by 519,815 shares in the quarter, leaving it with 6.06 million shares, and cut its stake in Royal Bank Of Canada (NYSE:RY). In the last three months, insiders acquired 153,633 shares of company stock valued at $1,967,303. Institutional investors own 68.12% of the company's stock.

Shares of Cenovus Energy (NYSE:CVE) traded down $0.19 during midday trading on Friday, hitting $9.39. The firm presented substantial 200-days simple moving average of 2.02%. The company's market capitalization is $10.71 billion. Cenovus Energy has a 12-month low of $6.76 and a 12-month high of $16.16.

Cenovus Energy Inc. develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada. The company is scheduled to report its next quarterly earnings report on Thursday, February 15th. It has a return on equity (ROE) of 12.40%. During the same period past year, the business posted ($0.53) EPS.

Several analysts have released their opinion on Cenovus Energy Inc. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.04. The ex-dividend date is Thursday, December 14th. The stock's Dividend Yield stands at 3.21%.

Burgundy Asset Management Ltd increased its stake in Cenovus Energy Inc.

More news: Brokerages Set Philip Morris International Inc. (PM) Price Target at $121.30

CVE has been the subject of a number of research reports. BidaskClub lowered Cenovus Energy from a "hold" rating to a "sell" rating in a report on Thursday, August 17th. TD Securities lifted their price target on Cenovus Energy from C$12.50 to C$13.50 and gave the company a "hold" rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Cenovus Energy from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a report on Thursday, October 19th.

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target boosted by Citigroup from C$10.00 to C$13.00 in a research note issued on Monday, December 11th. Canaccord Genuity lifted their price target on Cenovus Energy from C$14.50 to C$15.00 in a report on Tuesday, September 26th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company.

Institutional investors now hold around $6.8 billion or 73.1% in CVE stock.

More notable recent Cenovus Energy Inc. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.

The Calgary-based oil producer (TSX:CVE) said it expects to find savings in areas such as drilling performance, development planning and optimized scheduling of oilsands well start-ups.

Want to see what other hedge funds are holding CVE?


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