National Bankshares Has Lowered Expectations for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE - Free Report) NYSE: CVE had its target price trimmed by National Bankshares from C$31.00 to C$29.00 in a report published on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also weighed in on CVE. TD Securities decreased their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Jefferies Financial Group lowered their price objective 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. Raymond James raised their target price on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Royal Bank of Canada lowered their price target on Cenovus Energy from C$29.00 to C$28.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Finally, BMO Capital Markets cut their price objective on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$31.30.

Cenovus Energy Stock Performance

Shares of CVE traded down C$0.26 on Thursday, reaching C$20.66. 3,082,303 shares of the stock traded hands, compared to its average volume of 5,333,488. The stock's 50-day moving average price is C$22.53 and its 200-day moving average price is C$24.47. 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 market cap of C$38.43 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96.

Cenovus Energy Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy's dividend payout ratio (DPR) is presently 28.69%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 4,600 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. Insiders have bought a total of 9,600 shares of company stock worth $211,699 over the last 90 days. Insiders own 32.03% of the company's stock.

About Cenovus Energy

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.