Cenovus Energy (TSE:CVE) Given New C$32.00 Price Target at Raymond James

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price cut by Raymond James from C$33.00 to C$32.00 in a research report released on Tuesday morning, BayStreet.CA reports.

Several other research firms have also weighed in on CVE. Royal Bank of Canada dropped their price target on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. BMO Capital Markets reduced their price target on shares of Cenovus Energy from C$33.00 to C$31.00 in a research report on Friday, October 4th. Scotiabank lowered their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Desjardins increased their target price on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Finally, TD Securities raised shares of Cenovus Energy from a hold rating to a strong-buy rating in a research note on Thursday, October 3rd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of C$32.45.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at C$23.23 on Tuesday. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The firm’s 50 day simple moving average is C$24.19 and its 200-day simple moving average is C$26.33. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The company has a market cap of C$43.21 billion, a P/E ratio of 9.25, 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 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The firm had revenue of C$14.89 billion for the quarter, compared to analysts’ expectations of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. As a group, equities research analysts predict that Cenovus Energy will post 2.0660125 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s payout ratio is 28.69%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson purchased 3,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of C$27.21 per share, for a total transaction of C$95,235.00. In other news, Senior Officer Jeffery George Lawson purchased 3,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of C$27.21 per share, with a total value of C$95,235.00. Also, Senior Officer Jonathan Michael Mckenzie acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of C$22.25 per share, with a total value of C$2,225,000.00. Insiders have purchased a total of 152,200 shares of company stock worth $3,459,477 over the last three months. Corporate insiders own 32.03% of the company’s stock.

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.