Cenovus Energy (NYSE:CVE) Rating Lowered to Sector Perform at National Bank Financial

Cenovus Energy (NYSE:CVE) (TSE:CVE) was downgraded by stock analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Friday,Briefing.com Automated Import reports.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Royal Bank of Canada restated an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a research note on Monday, January 6th. Finally, BMO Capital Markets decreased their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Cenovus Energy Stock Down 2.1 %

Shares of NYSE CVE opened at $15.31 on Friday. The company has a market capitalization of $27.92 billion, a P/E ratio of 10.56 and a beta of 1.99. Cenovus Energy has a 52-week low of $13.76 and a 52-week high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company’s 50 day moving average price is $15.00 and its 200-day moving average price is $16.32.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. Equities analysts forecast that Cenovus Energy will post 1.36 earnings per share for the current year.

Institutional Trading of Cenovus Energy

Several institutional investors have recently made changes to their positions in CVE. Truvestments Capital LLC bought a new stake in shares of Cenovus Energy in the 3rd quarter worth $25,000. Farther Finance Advisors LLC grew its stake in shares of Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 851 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,651 shares in the last quarter. Sierra Ocean LLC bought a new position in Cenovus Energy during the fourth quarter valued at about $67,000. Finally, Natixis bought a new position in Cenovus Energy during the fourth quarter valued at about $98,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.