Cenovus Energy Inc. (TSE:CVE) Receives Average Rating of "Buy" from Analysts

Shares of Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE have received a consensus recommendation of "Buy" from the eight ratings firms that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$30.33.

Several brokerages have recently commented on CVE. Jefferies Financial Group decreased their price target on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. Raymond James boosted their target price on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. BMO Capital Markets lowered their target price on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities cut their price target on Cenovus Energy from C$31.00 to C$29.00 and set a "buy" rating for the company in a research note on Friday, December 13th. Finally, National Bankshares decreased their price objective on shares of Cenovus Energy from C$29.00 to C$28.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Jeffery George Lawson acquired 5,000 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of C$21.17 per share, with a total value of C$105,832.00. Also, insider Cenovus Energy Inc. bought 44,700 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average price of C$22.07 per share, with a total value of C$986,658.63. Insiders have bought 54,800 shares of company stock valued at $1,203,070 in the last ninety days. Insiders own 32.03% of the company's stock.

Cenovus Energy Price Performance

CVE stock traded up C$0.10 during trading on Monday, reaching C$21.83. 3,087,315 shares of the company were exchanged, compared to its average volume of 4,614,314. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The stock's 50 day moving average price is C$21.50 and its 200 day moving average price is C$23.00. Cenovus Energy has a 52-week low of C$20.16 and a 52-week high of C$29.96. The company has a market cap of C$39.77 billion, a P/E ratio of 10.76, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.30%. Cenovus Energy's dividend payout ratio (DPR) is 35.49%.

About Cenovus Energy

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.