Cenovus Energy Inc. (TSE:CVE) Receives C$34.08 Consensus Target Price from Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is C$33.54.

Several analysts have recently issued reports on CVE shares. Raymond James set a C$33.00 price target on Cenovus Energy and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Jefferies Financial Group lowered their price target on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a report on Monday. Scotiabank reduced their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. National Bankshares upped their price objective on shares of Cenovus Energy from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada dropped their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a report on Tuesday.

Cenovus Energy Stock Performance

CVE stock opened at C$22.72 on Friday. The firm has a 50 day moving average of C$25.56 and a two-hundred day moving average of C$26.55. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a market capitalization of C$42.26 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 0.09 and a beta of 2.67. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The business had revenue of C$14.89 billion during the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. As a group, equities analysts anticipate that Cenovus Energy will post 2.5066667 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Buying and Selling

In other news, Senior Officer Geoffrey Murray acquired 3,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. In other Cenovus Energy news, Senior Officer Geoffrey Murray bought 3,200 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. Also, Senior Officer Norrie Carson Ramsay sold 40,084 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$25.87, for a total transaction of C$1,037,065.27. Insiders have bought a total of 148,200 shares of company stock valued at $3,369,477 over the last three months. 31.71% of the stock is owned by corporate insiders.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.