Credit Suisse Group AG Reiterates Outperform Rating for Cenovus Energy Inc (CVE)
Institutional investors own 68.12% of the company’s stock.
Cenovus Energy (TSE:CVE) opened at 12.05 on Friday. Quantitative Systematic Strategies LLC acquired a new position in shares of Cenovus Energy during the third quarter valued at about $1,061,000. The Somerset Capital Management Llp holds 1.36M shares with $19.12M value, down from 1.38 million last quarter. Highstreet Asset Management Inc. now owns 35,282 shares of the oil and gas company’s stock worth $399,000 after buying an additional 782 shares during the last quarter. Hsbc Holdings PLC now owns 268,851 shares of the oil and gas company’s stock worth $3,849,000 after buying an additional 9,769 shares during the last quarter. Alpha Omega Wealth Management LLC acquired a new position in shares of Cenovus Energy during the first quarter valued at about $973,000. Lincluden Management Ltd. increased its position in Cenovus Energy by 44.3% in the fourth quarter. Its last month’s stock price volatility remained 3.77% which for the week stands at 3.14%.
Cenovus Energy Inc (USA) (NYSE:CVE) after opening at $8.90, closed at $9.07 by scoring 1.68%. A total of 2.89 million shares exchanged hands as contrast to its average trading volume of 2.94 million shares. The Market Capitalization of the company stands at 10.94 Billion. Cenovus Energy Inc has a 12-month low of $8.43 and a 12-month high of $16.82. The stock’s 50 day moving average price is $13.35 and its 200 day moving average price is $17.18. More interesting news about Cenovus Energy Inc (USA) (NYSE:CVE) were released by: Fool.ca and their article: “Is Cenovus Energy Inc. a Great Contrarian Play?” published on February 14, 2017 as well as Fool.ca’s news article titled: “Cenovus Energy Inc.: An Incredibly Cheap Oil Stock” with publication date: April 12, 2017. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.06.
The analysts forecasted Growth Estimates for the Current Quarter for CVE to be 150%. Cenovus Energy has a 52-week low of $11.95 and a 52-week high of $22.06. During the same quarter in the previous year, the company posted ($0.51) EPS.
Many analysts have provided their estimated foresights on Cenovus Energy Inc.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.05 per share. It has a dividend yield of 1.65%. Cenovus Energy’s dividend payout ratio is now -12.93%.
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Several research firms have recently commented on CVE. Societe Generale raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday, February 16th.
Analysts await Cenovus Energy Inc (USA) (NYSE:CVE) to report earnings on July, 27. JP Morgan maintained the shares of CVE in report on Tuesday, December 15 with “Neutral” rating.
UnitedHealth Group Inc (NYSE:UNH) stock price escalated 2.49% to finalize at $179.58 throughout previous buying and selling session. Finally, Desjardins decreased their price objective on shares of Cenovus Energy from C$24.00 to C$20.00 in a research report on Friday, April 7th.
Some buy side analysts are also providing their Analysis on Cenovus Energy Inc., where 0 analysts have rated the stock as Strong buy, 13 analysts have given a Buy signal, 12 said it’s a HOLD, 0 reported it as Underperform and 0 analysts rated the stock as Sell. On Friday, August 19 the stock rating was initiated by Bank of America with “Neutral”. The stock of Cenovus Energy Inc (USA) (NYSE:CVE) earned “Outperform” rating by Credit Suisse on Friday, May 26. The Firm is engaged in the business of developing, producing and marketing crude oil, natural gas liquids and natural gas. The Company’s divisions include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.