Cenovus Energy Inc. (TSE:CVE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$29.89.

A number of equities analysts recently issued reports on the company. Royal Bank of Canada cut their target price on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. National Bank Financial lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. National Bankshares downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$28.00 to C$25.00 in a research report on Friday, February 21st. BMO Capital Markets dropped their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Finally, TD Securities decreased their price objective on Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating for the company in a report on Monday, February 24th.

Insider Buying and Selling

In related news, Senior Officer Karamjit Singh Sandhar bought 5,000 shares of Cenovus Energy stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of C$20.05 per share, with a total value of C$100,250.00. Also, Senior Officer Jeffery George Lawson purchased 10,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of C$21.39 per share, for a total transaction of C$213,900.00. Over the last three months, insiders have acquired 27,450 shares of company stock worth $556,734. 32.03% of the stock is owned by company insiders.

Cenovus Energy Stock Down 0.9 %

Shares of TSE:CVE opened at C$18.85 on Friday. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. Cenovus Energy has a 52-week low of C$17.42 and a 52-week high of C$29.96. The business’s 50 day simple moving average is C$20.89 and its two-hundred day simple moving average is C$22.06. The firm has a market cap of C$34.34 billion, a P/E ratio of 9.29, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s dividend payout ratio is presently 35.49%.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.