Cenovus Energy (CVE) Receiving Somewhat Favorable News Coverage, Study Finds

Media stories about Cenovus Energy (NYSE:CVE) (TSE:CVE) have been trending somewhat positive on Thursday, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cenovus Energy earned a coverage optimism score of 0.24 on Accern’s scale. Accern also assigned news stories about the oil and gas company an impact score of 46.1217870604505 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

These are some of the news headlines that may have impacted Accern’s analysis:

Get Cenovus Energy alerts: Cenovus Energy Inc. (TSX:CVE) Value Moved to 26552735: Quant Update (tremontherald.com) Current Stocks in Review: TD Ameritrade Holding Corporation (NASDAQ:AMTD), Cenovus Energy Inc. (NYSE:CVE … (journalfinance.net) Cenovus Energy Inc (CVE.TO) Collects Gains of 7.09% For the Week (mtlnewsjournal.com) A Head-to-head Comparison of: Apple Inc., (NASDAQ: AAPL), Cenovus Energy Inc., (NYSE: CVE) (globalexportlines.com) Cenovus Energy Inc (CVE) Expected to Announce Quarterly Sales of $4.21 Billion (americanbankingnews.com)

Shares of Cenovus Energy opened at $10.48 on Thursday, MarketBeat reports. Cenovus Energy has a fifty-two week low of $6.90 and a fifty-two week high of $11.52. The company has a market capitalization of $12.88 billion, a P/E ratio of -524.00 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.12 and a quick ratio of 0.72.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, April 25th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.35). The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.88 billion. Cenovus Energy had a net margin of 13.13% and a negative return on equity of 3.24%. During the same period in the previous year, the business posted ($0.05) earnings per share. equities analysts predict that Cenovus Energy will post -0.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were paid a $0.0389 dividend. The ex-dividend date of this dividend was Thursday, June 14th. This represents a $0.16 annualized dividend and a yield of 1.49%. Cenovus Energy’s payout ratio is currently -750.00%.

CVE has been the subject of several research reports. Raymond James upgraded shares of Cenovus Energy from an “underperform” rating to a “market perform” rating in a research note on Tuesday, April 24th. National Bank Financial upgraded shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Thursday, May 31st. ValuEngine upgraded shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Morgan Stanley reduced their target price on shares of Cenovus Energy from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Monday, April 16th. Finally, UBS Group initiated coverage on shares of Cenovus Energy in a research note on Wednesday, March 7th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.21.

About Cenovus Energy

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 and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.