Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) will announce its 12/31/2023 earnings results before the market opens on Thursday, February 15th. Analysts expect the company to announce earnings of $0.25 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Cenovus Energy Stock Up 2.0 %
Shares of Cenovus Energy stock opened at $16.56 on Tuesday. The company has a 50-day simple moving average of $16.15 and a two-hundred day simple moving average of $18.24. The stock has a market capitalization of $31.00 billion, a PE ratio of 10.48 and a beta of 2.16. Cenovus Energy has a 52-week low of $14.69 and a 52-week high of $21.37. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 1.49.
Wall Street Analyst Weigh In
Several research firms recently issued reports on CVE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a research report on Friday, January 26th. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.33.
Institutional Investors Weigh In On Cenovus Energy
A number of large investors have recently added to or reduced their stakes in CVE. Bornite Capital Management LP boosted its stake in shares of Cenovus Energy by 20.0% in the 1st quarter. Bornite Capital Management LP now owns 3,000,000 shares of the oil and gas company’s stock worth $50,040,000 after buying an additional 500,000 shares during the last quarter. Raymond James & Associates grew its stake in shares of Cenovus Energy by 48.6% during the 1st quarter. Raymond James & Associates now owns 130,378 shares of the oil and gas company’s stock valued at $2,175,000 after purchasing an additional 42,646 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cenovus Energy by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,471,933 shares of the oil and gas company’s stock valued at $24,551,000 after purchasing an additional 7,624 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Cenovus Energy by 25.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,944 shares of the oil and gas company’s stock worth $399,000 after purchasing an additional 4,806 shares during the period. Finally, Natixis Advisors L.P. boosted its holdings in shares of Cenovus Energy by 11.6% in the first quarter. Natixis Advisors L.P. now owns 49,549 shares of the oil and gas company’s stock worth $826,000 after buying an additional 5,150 shares during the last quarter. Institutional investors own 50.01% of the company’s stock.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil and natural gas in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, and U.S. Manufacturing segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan.
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