Cenovus Energy Inc. (TSE:CVE) Given Average Rating of “Buy” by Analysts

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been assigned an average recommendation of “Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$31.90.

Several analysts have weighed in on CVE shares. National Bankshares cut 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 cut 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. Royal Bank of Canada dropped their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. TD Securities raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Raymond James dropped their price objective on Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Keith Chiasson purchased 25,000 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of C$23.40 per share, for a total transaction of C$585,000.00. Also, Senior Officer Jeffery George Lawson purchased 9,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of C$21.92 per share, for a total transaction of C$197,280.00. Insiders have purchased 141,700 shares of company stock worth $3,180,512 in the last three months. 32.03% of the stock is currently owned by insiders.

Cenovus Energy Stock Up 0.2 %

Shares of Cenovus Energy stock opened at C$22.18 on Wednesday. The business’s fifty day moving average price is C$22.94 and its two-hundred day moving average price is C$25.01. 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 capitalization of C$41.25 billion, a P/E ratio of 8.84, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s payout ratio is 28.69%.

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.