Cenovus Energy Inc (CVE) Given Buy Rating at Canaccord Genuity

Posted October 22, 2017

The overall volume in the last trading session was 6,628,305 shares.

Several other research analysts have also commented on CVE. The stock has a market cap of $15.35 billion and a price-to-earnings ratio of 4.19. The subsequent divestiture process has been closely watched by investors concerned that low energy prices may reduce Cenovus's proceeds. Cenovus Energy comprises 1.6% of Foundation Resource Management Inc.'s investment portfolio, making the stock its 22nd largest position.

Horizon Pharma plc (HZNP) analysts on average have given a price target of $10.54 on HZNP stock. The original version of this piece of content can be accessed at https://www.truebluetribune.com/2017/10/19/cenovus-energy-inc-cve-given-buy-rating-at-canaccord-genuity.html.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, July 27th.

In a research note issued to clients and investors by National Bank Financial on Friday, 20 October, Cenovus Energy (TSE:CVE) had its target price upped to $13.00.

Schlumberger will be the majority non-operating owner of the Palliser Block, with the rights to exclusive service provision, while Torxen, which is headed by former Cenovus Energy COO John Brannan, will be the operator. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.24. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company's stock worth $147,000 after buying an additional 900 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in shares of Cenovus Energy during the 2nd quarter valued at $124,000.

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Taking a broader look brokerage firms' analysts on the street with an expectant view have Cenovus Energy Inc (NYSE:CVE) high price target of $12.38 and with a conservative view have low price target of $7.99. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%.

Cenovus Energy Inc. agreed to sell its Palliser crude field to Schlumberger Ltd. and Torxen Energy for C$1.3 billion ($1.04 billion), advancing efforts to pay down debt from its oil-sands mega deal earlier this year. Cenovus Energy has recorded a 50-day average of $11.67 and a two hundred day average of $11.45. During the same period past year, the business earned ($0.05) earnings per share. Finally, Zacks Investment Research upgraded shares of Cenovus Energy from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a report on Tuesday, August 2nd.

As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Cenovus Energy Inc (NYSE:CVE). J P Morgan Chase & Co increased their target price on shares of Cenovus Energy from C$11.00 to C$11.50 in a research report on Thursday, September 14th.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. This represents a change of -0.40% from the opening.

07/04/2017 - Cenovus Energy Inc was downgraded to "underperform" by analysts at Raymond James. The ex-dividend date of this dividend is Tuesday, December 13th. Aviva PLC increased its stake in Cenovus Energy by 23.4% in the 2nd quarter. Cenovus Energy's dividend payout ratio (DPR) is presently 8.89%.