Cenovus Energy Inc (CVE) Receives Consensus Rating of "Hold" from Analysts

The company has a consensus rating of "Hold" and an average price target of $17.34.

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Segantii Capital Management Ltd cut its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 72.5% during the second quarter, Holdings Channel reports. Franklin Resources Inc now owns 2,298,302 shares worth $16,952,000. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & global copyright law.

A number of analysts have recently weighed in on the stock. Ameriprise Financial Inc. now owns 117,706 shares of the oil and gas company's stock worth $1,326,000 after buying an additional 21,046 shares during the last quarter. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Management Corp expanded its position by buying 2,090,400 shares an increase of 44.6%. TD Securities downgraded Cenovus Energy from a "buy" rating to a "hold" rating and decreased their price target for the company from C$15.50 to C$11.50 in a research note on Friday, June 30th. Capital Fund Management S.A. now owns 933,736 shares of the oil and gas company's stock valued at $6,882,000 after buying an additional 415,456 shares during the period. TD Asset Management Inc. raised its stake in Cenovus Energy by 5.3% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Cenovus Energy by 7.2% in the second quarter. The value in dollars went from $4,842,000 to $16,952,000 a change of 250.1% quarter over quarter. Over the last quarter, insiders have purchased 68,800 shares of company stock worth $838,928. The fund owned 159,190 shares of the oil and gas company's stock after buying an additional 33,779 shares during the period.

Other hedge funds also recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company's stock valued at $199,920,000 after buying an additional 7,354,590 shares during the last quarter. The shares were acquired at an average price of C$8.56 per share, for a total transaction of C$75,328.00. Teachers Advisors LLC increased its position in shares of Cenovus Energy by 77.6% in the fourth quarter. Shares Down 8%: What Should You Do?" on June 21, 2017, also Fool.ca with their article: "Better Buy: Cenovus Energy Inc. vs. The company has a market capitalization of $9.81 billion, a PE ratio of 3.36 and a beta of 0.57. The stock's 50 day moving average is $9.70 and its 200-day moving average is $14.00. Royal Bank Of Canada owns $491.01 million in Cenovus Energy Inc., which represents roughly 4.96% of the company's market cap and approximately 8.54% of the institutional ownership. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.03 by $0.24. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion.

Several analysts have released their opinion on Cenovus Energy Inc. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. Cenovus Energy Inc recently declared a dividend paid on Friday the 30th of June 2017. This is a boost from Cenovus Energy's previous quarterly dividend of $0.04. The dividend was $0.038 per share for the quarter which comes to $0.15 on an annualized basis. J P Morgan Chase & Co cut their price objective on Cenovus Energy from C$21.00 to C$19.00 in a research note on Friday, March 31st. The ex-dividend date of this dividend is Thursday, September 14th. The dividend yield was $0.96. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/10/aqr-capital-management-llc-decreases-stake-in-cenovus-energy-inc-nysecve-updated.html.

A number of research firms have issued reports on CVE. ValuEngine raised shares of Cenovus Energy from a "sell" rating to a "hold" rating in a report on Friday, July 28th.

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