Tudor Pickering Lowers Cenovus Energy (TSE:CVE) to Hold

Tudor Pickering lowered shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from a buy rating to a hold rating in a report issued on Wednesday morning, Stock Target Advisor reports. Tudor Pickering currently has C$3.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Stifel Firstegy cut shares of Cenovus Energy from a buy rating to a hold rating in a research note on Thursday, March 12th. National Bank Financial cut their price target on shares of Cenovus Energy from C$16.00 to C$8.00 and set an outperform rating for the company in a research note on Tuesday, March 10th. Morgan Stanley cut their price target on shares of Cenovus Energy from C$14.00 to C$5.00 in a research note on Monday, March 16th. Canaccord Genuity cut their target price on shares of Cenovus Energy from C$14.00 to C$6.50 in a research note on Tuesday, March 10th. Finally, Scotiabank cut their target price on shares of Cenovus Energy from C$15.00 to C$14.50 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Cenovus Energy currently has an average rating of Hold and a consensus target price of C$9.82.

CVE stock traded down C$0.18 during trading hours on Wednesday, reaching C$2.66. The stock had a trading volume of 10,754,195 shares, compared to its average volume of 7,379,010. The stock has a market capitalization of $2.94 billion and a PE ratio of 1.49. The company has a debt-to-equity ratio of 44.87, a current ratio of 1.30 and a quick ratio of 0.67. The stock has a 50-day simple moving average of C$8.30 and a 200 day simple moving average of C$11.22. Cenovus Energy has a fifty-two week low of C$2.06 and a fifty-two week high of C$14.31.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Wednesday, February 12th. The company reported C($0.13) EPS for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.23). The business had revenue of C$4.84 billion for the quarter, compared to analysts’ expectations of C$5.40 billion. On average, sell-side analysts forecast that Cenovus Energy will post 0.1945374 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date of this dividend is Thursday, March 12th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.06. Cenovus Energy’s dividend payout ratio (DPR) is currently 11.94%.

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 (TSE:CVE)

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