Canada's Cenovus facing tough market for critical asset sales

Posted June 23, 2017

Macquarie lowered shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) from a neutral rating to an underperform rating in a research note published on Wednesday morning.

01/21/2016 - Cenovus Energy Inc was upgraded to "neutral" by analysts at Nomura.

Analysts expect Cenovus Energy Inc (USA) (NYSE:CVE) to report $0.04 EPS on July, 27.They anticipate $0.08 EPS change or 200.00 % from last quarter's $-0.04 EPS. The company reported revenue of $3.51 Billion in the same period past year.

Cenovus Energy Inc had its "outperform" rating reiterated by analysts at Credit Suisse. The mean target projections are based on 11 opinions. Cenovus Energy Inc (USA) (NYSE:CVE) has declined 34.01% since June 21, 2016 and is downtrending. In the last ninety days, insiders bought 225,400 shares of company stock worth $2,984,268. Analyst's mean target price for FRT is $145.83 while analysts mean recommendation is 2.40. It has a return on equity (ROE) of -1.90%. During the same quarter in the previous year, the business posted ($0.51) EPS. CVE's SI was 9.64M shares in June as released by FINRA. The stock of Cenovus Energy Inc (TSE:CVE) has "Outperform" rating given on Friday, December 11 by RBC Capital Markets. Scotiabank reissued an "outperform" rating and set a C$20.00 price objective on shares of Cenovus Energy in a research report on Monday, April 24th. ValuEngine cut Cenovus Energy from a "hold" rating to a "sell" rating in a report on Friday, June 2nd. Macquarie Research upgraded Cenovus Energy Inc (USA) (NYSE:CVE) on Thursday, March 30 to "Neutral" rating. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Cenovus Energy has an average rating of Hold and a consensus target price of $19.35. About 7.44 million shares traded or 53.72% up from the average. 2,169,548 shares of the stock were exchanged. Analysts reported that the Price Target for Cenovus Energy Inc. might touch $25 high while the Average Price Target and Low price Target is $18.69 and $12.5 respectively. The firm's 50-day moving average is $9.25 and its 200 day moving average is $12.41. The relative volume of the stock is 3.11, while its market cap is $8.73 Billion.

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 given a $0.0371 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. Cenovus Energy's dividend payout ratio (DPR) is -71.43%. WFG Advisors LP now owns 1,017 shares of the oil and gas company's stock worth $180,000 after buying an additional 512 shares during the last quarter. FMR LLC increased its position in Cenovus Energy by 33.0% in the first quarter.

Causeway Capital Management Llc increased Abb Ltd (NYSE:ABB) stake by 796,633 shares to 1.18M valued at $24.11M in 2016Q4. Moreover, Stelliam Investment Management Lp has 6.58% invested in the company for 8.48 million shares. Comerica Bank boosted its position in Cenovus Energy by 7.4% in the fourth quarter. The recommendation scale measures the value from 1 to 5, where 1 means "Buy" and 5 stands for "Sell". Institutional investors own 84.01% of the company's stock.

"COPYRIGHT VIOLATION WARNING: "$0.04 Earnings Per Share Expected for Cenovus Energy Inc (CVE) This Quarter" was posted by Transcript Daily and is the property of of Transcript Daily. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and worldwide trademark and copyright law. According to these analysts, the Low Revenue Estimate for Cenovus Energy Inc.is 2.67 Billion and the High Revenue Estimate is 3.7 Billion.

Receive News & Ratings for Cenovus Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy Inc and related companies with our FREE daily email newsletter.