Cenovus Energy (TSE:CVE) Upgraded to Strong-Buy by TD Securities

TD Securities upgraded shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from a hold rating to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.

Several other analysts also recently issued reports on the company. Desjardins lifted their target price on Cenovus Energy from C$31.50 to C$33.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Royal Bank of Canada decreased their target price on Cenovus Energy from C$33.00 to C$29.00 in a research note on Tuesday, September 17th. National Bankshares decreased their target price on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Jefferies Financial Group decreased their target price on Cenovus Energy from C$36.00 to C$33.00 and set a buy rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank cut their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of C$32.77.

Cenovus Energy Stock Up 2.6 %

TSE CVE opened at C$24.80 on Thursday. The stock’s 50-day moving average price is C$24.48 and its 200-day moving average price is C$26.43. 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 has a 52 week low of C$19.82 and a 52 week high of C$29.96. The company has a market capitalization of C$46.13 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The company had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. On average, equities research analysts predict that Cenovus Energy will post 2.0660125 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is 28.69%.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of C$21.92 per share, with a total value of C$197,280.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of C$21.92 per share, with a total value of C$197,280.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were purchased at an average cost of C$22.54 per share, with a total value of C$72,112.00. In the last 90 days, insiders purchased 152,200 shares of company stock worth $3,459,477. 32.03% of the stock is currently owned by company insiders.

About Cenovus Energy

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.