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

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE has been assigned an average rating of "Buy" from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$31.90.

Several equities analysts recently commented on CVE shares. National Bankshares dropped their price objective on shares of Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. BMO Capital Markets dropped their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. TD Securities raised shares of Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 3rd. Raymond James dropped their price target on shares of Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group dropped their price target on shares of Cenovus Energy from C$36.00 to C$33.00 and set a "buy" rating for the company in a research note on Monday, September 16th.

Cenovus Energy Price Performance

Shares of TSE:CVE opened at C$21.78 on Wednesday. The company has a market cap of C$40.51 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.09 and a beta of 2.63. 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 firm has a 50 day simple moving average of C$22.95 and a 200 day simple moving average of C$25.16. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 3.31%. The ex-dividend date is Friday, December 13th. Cenovus Energy's payout ratio is 28.69%.

Insiders Place Their Bets

In related news, Senior Officer Geoffrey Murray purchased 3,200 shares of Cenovus Energy stock in a transaction on Tuesday, September 17th. The stock was acquired at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. Also, Senior Officer Keith Chiasson acquired 25,000 shares of Cenovus Energy stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of C$23.40 per share, with a total value of C$585,000.00. Over the last ninety days, insiders purchased 141,700 shares of company stock worth $3,180,512. 32.03% of the stock is currently owned by company insiders.

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.