Wednesday, 22 November, 2017

Cenovus Energy Inc (NYSE:CVE) Valuation According To Analysts

Kelvin Reese | 22 October, 2017, 01:53

Cenovus Energy has struck a deal to sell its Palliser oil and gas assets to Torxen Energy and Schlumberger for C$1.3 billion (US$1.0 billion). Macquarie lowered Cenovus Energy from a neutral rating to an underperform rating in a research report on Wednesday, June 21st.

Meanwhile, the sale process for Cenovus's Weyburn carbon-dioxide enhanced oil recovery operation in Saskatchewan is proceeding "as expected". The company's stock had a trading volume of 3,433,172 shares. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/10/20/cenovus-energy-inc-cve-upgraded-to-buy-at-zacks-investment-research.html. The company has a 50-day moving average of $9.43 and a 200-day moving average of $8.83.

Several analysts recently weighed in on CVE shares. Morgan Stanley downgraded shares of Cenovus Energy from an overweight rating to an equal weight rating in a research note on Wednesday, July 19th.

In late March Cenovus announced the $17.7 billion acquisition of most of the Canadian assets of Houston-based ConocoPhillips, along with a plan to raise $3 billion by issuing new shares and the marketing of its Pelican Lake and Suffield operations.

A number of hedge funds and other institutional investors have recently made changes to their positions in CVE. Tobam purchased a new position in Cenovus Energy in the 2nd quarter worth about $309,000. A statistical measure of the dispersion of returns (volatility) for CVE producing salvation in Investors mouth, it has week volatility of 2.40% and for the month booked as 2.57%.

Currently Cenovus Energy Inc (NYSE:CVE)'s shares owned by insiders are 0.1%, whereas shares owned by institutional owners are 73.1%. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Cenovus Energy has an average rating of "Hold" and an average price target of $16.06.

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With a total market value of $0, Cenovus Energy has price-earnings ratio of 4.19 with a one year low of $8.89 and a one year high of $22.06. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.24.

Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) had its price objective upped by National Bank Financial from C$12.50 to C$13.00 in a research note published on Friday morning. During the same quarter past year, the business posted ($0.05) earnings per share.

The price target set for the stock is $10.54 and this sets up an interesting set of potential movement for the stock, according to data from Finviz's Research. Analysts anticipate that Cenovus Energy will post $0.51 earnings per share for the current year.

Image: Cenovus Energy intends to optimize its non-core assets portfolio in Canada.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Scotiabank reiterated an "outperform" rating and issued a $20.00 price target on shares of Cenovus Energy in a report on Sunday, July 31st. The ex-dividend date of this dividend is Tuesday, December 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Cenovus Energy's dividend payout ratio (DPR) is now 8.89%. Finally, Sciencast Management LP bought a new stake in Cenovus Energy in the second quarter worth about $124,000.

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