TD Securities Trims Cenovus Energy (TSE:CVE) Target Price to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective trimmed by TD Securities from C$33.00 to C$31.00 in a research report released on Tuesday, Marketbeat Ratings reports. The firm currently has a hold rating on the stock.

Several other research firms also recently commented on CVE. National Bankshares dropped their target price on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Desjardins increased their target price on Cenovus Energy from C$31.50 to C$33.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Scotiabank dropped their target price on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Jefferies Financial Group dropped their target price on Cenovus Energy from C$36.00 to C$33.00 and set a buy rating for the company in a research report on Monday, September 16th. Finally, Royal Bank of Canada dropped their target price on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and an average target price of C$32.77.

Cenovus Energy Price Performance

Shares of CVE stock opened at C$24.80 on Tuesday. 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 twelve month low of C$19.82 and a twelve month high of C$29.96. The company has a market cap of C$46.13 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.09 and a beta of 2.67. The business has a fifty day simple moving average of C$24.48 and a 200 day simple moving average of C$26.42.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results 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 firm had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. On average, sell-side analysts forecast that Cenovus Energy will post 2.0660125 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, September 13th. This represents a $0.72 annualized dividend and a yield of 2.90%. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of C$22.50 per share, with a total value of C$90,000.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of C$22.50 per share, with a total value of C$90,000.00. Also, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of C$22.25 per share, with a total value of C$2,225,000.00. Insiders acquired 152,200 shares of company stock valued at $3,459,477 over the last 90 days. Company insiders own 32.03% of the company’s stock.

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.