Cenovus Energy (TSE:CVE) Lowered to “Hold” at Tudor Pickering

Tudor Pickering downgraded shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from a buy rating to a hold rating in a research report released on Wednesday, Stock Target Advisor reports. The firm currently has C$3.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Tudor Pickering & Holt lowered shares of Cenovus Energy from a buy rating to a hold rating and set a C$3.00 price objective on the stock. in a report on Wednesday. TD Securities cut their price objective on shares of Cenovus Energy from C$16.50 to C$6.00 and set a buy rating on the stock in a report on Friday, March 13th. Canaccord Genuity lowered their target price on shares of Cenovus Energy from C$14.00 to C$6.50 in a research note on Tuesday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Cenovus Energy from C$12.00 to C$5.50 in a research note on Wednesday, March 11th. Finally, Stifel Firstegy downgraded shares of Cenovus Energy from a buy rating to a hold rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of C$9.82.

TSE CVE traded down C$0.18 during trading hours on Wednesday, hitting C$2.66. The company’s stock had a trading volume of 10,754,195 shares, compared to its average volume of 7,379,010. The stock has a fifty day moving average of C$8.30 and a 200 day moving average of C$11.22. Cenovus Energy has a twelve month low of C$2.06 and a twelve month high of C$14.31. The firm has a market capitalization of $2.94 billion and a P/E ratio of 1.49. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 44.87.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Wednesday, February 12th. The company reported C($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.10 by C($0.23). The company had revenue of C$4.84 billion for the quarter, compared to analyst estimates of C$5.40 billion. On average, analysts predict that Cenovus Energy will post 0.1945374 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.063 dividend. This represents a $0.25 annualized dividend and a yield of 9.47%. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.06. Cenovus Energy’s dividend payout ratio is presently 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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