News coverage about Cenovus Energy (NYSE:CVE) (TSE:CVE) has trended positive on Friday, according to AlphaOne Sentiment. The research group, a unit of Accern, identifies negative and positive press coverage by reviewing more than 20 million blog and news sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cenovus Energy earned a media sentiment score of 0.28 on AlphaOne’s scale. AlphaOne also gave news stories about the oil and gas company an impact score of 0 out of 100, meaning that recent press coverage is extremely unlikely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have impacted Alpha One’s scoring:
- ConocoPhillips Concludes Asset Divestment to Cenovus Energy (finance.yahoo.com)
- Cenovus completes acquisition of assets in Western Canada from ConocoPhillips – Nasdaq (nasdaq.com)
- Canada LNG developer Pieridae seeking natural gas acquisitions -CEO (HSE, CVE, PEA) (markets.businessinsider.com)
- Short Interest in Cenovus Energy Inc (CVE) Decreases By 18.6% (americanbankingnews.com)
Several equities research analysts recently commented on the stock. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Friday, March 24th. Canaccord Genuity reaffirmed a “hold” rating and issued a $16.50 price objective on shares of Cenovus Energy in a research report on Wednesday, April 26th. Goldman Sachs Group Inc cut shares of Cenovus Energy from a “buy” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research report on Monday, January 23rd. Zacks Investment Research cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Finally, Macquarie raised shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, March 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Cenovus Energy has a consensus rating of “Hold” and a consensus price target of $19.35.
Shares of Cenovus Energy (NYSE:CVE) traded up 3.45% on Friday, reaching $9.60. 1,173,668 shares of the company were exchanged. Cenovus Energy has a 12-month low of $9.11 and a 12-month high of $16.82. The firm’s market capitalization is $8.00 billion. The company’s 50 day moving average is $10.29 and its 200 day moving average is $13.15.
Cenovus Energy (NYSE:CVE) last issued its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Cenovus Energy had a negative return on equity of 9.35% and a negative net margin of 11.17%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter last year, the company earned ($0.51) EPS. Analysts forecast that Cenovus Energy will post $0.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.0371 per share. This represents a $0.15 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, June 13th. Cenovus Energy’s payout ratio is -12.93%.
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About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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