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

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE has been given an average recommendation of "Buy" by the nine brokerages that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$31.20.

CVE has been the subject of several recent research reports. TD Securities dropped their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a "buy" rating for the company in a research report on Friday, December 13th. Raymond James lifted their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. National Bankshares lowered their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set an "outperform" rating for the company in a research report on Thursday. BMO Capital Markets cut their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Finally, Royal Bank of Canada lowered their target price on Cenovus Energy from C$29.00 to C$28.00 and set an "outperform" rating for the company in a report on Friday, November 1st.

Insider Buying and Selling

In other news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was bought at an average price of C$21.74 per share, with a total value of C$100,004.00. Over the last quarter, insiders have purchased 9,600 shares of company stock worth $211,699. Corporate insiders own 32.03% of the company's stock.

Cenovus Energy Trading Up 0.2 %

Shares of CVE traded up C$0.05 during trading hours on Friday, hitting C$20.71. 10,164,479 shares of the stock traded hands, compared to its average volume of 5,353,047. The business has a fifty day moving average of C$22.37 and a 200-day moving average of C$24.34. The firm has a market capitalization of C$38.52 billion, a PE ratio of 8.25, a price-to-earnings-growth 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. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy's dividend payout ratio is currently 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.