Cenovus Energy (TSE:CVE) Downgraded by Tudor Pickering & Holt to “Hold”

Tudor Pickering & Holt downgraded shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from a buy rating to a hold rating in a research report report published on Wednesday morning, BayStreet.CA reports. Tudor Pickering & Holt currently has C$3.00 price target on the stock.

Several other brokerages also recently weighed in on CVE. Scotiabank lowered their target price on Cenovus Energy from C$15.00 to C$14.50 in a research note on Tuesday, January 14th. National Bank Financial lowered their target price on Cenovus Energy from C$16.00 to C$8.00 and set an outperform rating for the company in a research note on Tuesday, March 10th. Raymond James set a C$4.00 price target on shares of Cenovus Energy and gave the stock a market perform rating in a research report on Tuesday. TD Securities reduced their price target on shares of Cenovus Energy from C$16.50 to C$6.00 and set a buy rating on the stock in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cenovus Energy from C$12.00 to C$5.50 in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of C$9.82.

Shares of Cenovus Energy stock traded down C$0.18 during trading hours on Wednesday, hitting C$2.66. 10,754,195 shares of the company’s stock traded hands, compared to its average volume of 7,379,010. The stock has a 50 day simple moving average of C$8.30 and a 200-day simple moving average of C$11.22. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 44.87. The company has a market cap of $2.94 billion and a PE ratio of 1.49. Cenovus Energy has a twelve month low of C$2.06 and a twelve month high of C$14.31.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, February 12th. The company reported C($0.13) earnings per share for the quarter, missing the consensus estimate of C$0.10 by C($0.23). The firm had revenue of C$4.84 billion during the quarter, compared to the consensus estimate of C$5.40 billion. As a group, equities research analysts predict that Cenovus Energy will post 0.1945374 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.063 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.25 annualized dividend and a dividend yield of 9.47%. Cenovus Energy’s dividend payout ratio (DPR) 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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