Cenovus Energy (NYSE:CVE) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of Cenovus Energy (NYSE:CVE) (TSE:CVE) from a strong sell rating to a sell rating in a research report report published on Tuesday morning, ValuEngine reports.

Several other equities analysts also recently commented on CVE. UBS Group increased their target price on shares of Cenovus Energy from $12.50 to $13.00 and gave the stock a neutral rating in a research report on Thursday, October 3rd. Royal Bank of Canada lowered their price objective on Cenovus Energy from $17.00 to $15.00 and set a buy rating on the stock in a report on Friday, October 18th. Raymond James set a $13.00 price objective on Cenovus Energy and gave the company a hold rating in a research note on Saturday, November 2nd. TheStreet upgraded Cenovus Energy from a d+ rating to a c rating in a report on Wednesday, November 6th. Finally, CIBC set a $16.00 target price on Cenovus Energy and gave the stock a buy rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $14.38.

Shares of Cenovus Energy stock opened at $8.53 on Tuesday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of -4.90, a P/E/G ratio of 1.14 and a beta of 0.98. The stock has a 50-day simple moving average of $8.90 and a 200-day simple moving average of $8.85. Cenovus Energy has a 52-week low of $6.15 and a 52-week high of $10.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.60.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The firm had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $5.33 billion. Cenovus Energy had a negative return on equity of 5.76% and a net margin of 3.41%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) earnings per share. As a group, equities research analysts predict that Cenovus Energy will post 0.45 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Cenovus Energy during the 1st quarter worth about $25,000. Atlas Capital Advisors LLC boosted its stake in Cenovus Energy by 45.4% during the 3rd quarter. Atlas Capital Advisors LLC now owns 4,998 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 1,560 shares during the period. Elkfork Partners LLC boosted its stake in Cenovus Energy by 21.0% during the 2nd quarter. Elkfork Partners LLC now owns 7,480 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 1,298 shares during the period. Meadow Creek Investment Management LLC grew its holdings in Cenovus Energy by 21.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 9,520 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 1,652 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in Cenovus Energy by 21.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,560 shares of the oil and gas company’s stock worth $98,000 after buying an additional 2,006 shares during the period. Institutional investors and hedge funds own 76.86% 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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