Cenovus Energy (TSE:CVE) Given New C$28.00 Price Target at TD Securities

Cenovus Energy (TSE:CVE - Free Report) NYSE: CVE had its price target decreased by TD Securities from C$29.00 to C$28.00 in a report published on Monday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other analysts have also issued reports on CVE. National Bank Financial lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. National Bankshares lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from C$28.00 to C$25.00 in a research note on Friday, February 21st. Raymond James upped their price objective 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 target price on Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group reduced their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$29.89.

Cenovus Energy Price Performance

CVE traded up C$0.11 on Monday, hitting C$20.06. 1,923,120 shares of the stock were exchanged, compared to its average volume of 4,892,907. The firm has a market capitalization of C$36.54 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00. Cenovus Energy has a 12 month low of C$19.80 and a 12 month high of C$29.96. The business has a 50-day moving average of C$21.47 and a two-hundred day moving average of C$22.63.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Friday, December 13th. Cenovus Energy's payout ratio is currently 35.49%.

Insider Transactions at Cenovus Energy

In related news, insider Cenovus Energy Inc. acquired 44,700 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average cost of C$22.07 per share, with a total value of C$986,658.63. Also, Senior Officer Karamjit Singh Sandhar bought 5,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were purchased at an average cost of C$20.05 per share, with a total value of C$100,250.00. Over the last 90 days, insiders have acquired 70,300 shares of company stock worth $1,527,610. Company insiders own 32.03% of the company's stock.

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.