Cenovus Energy (TSE:CVE) Downgraded to "Sector Perform" Rating by National Bankshares

National Bankshares lowered shares of Cenovus Energy (TSE:CVE - Free Report) NYSE: CVE from an outperform rating to a sector perform rating in a report released on Friday morning,BayStreet.CA reports. The firm currently has C$25.00 price objective on the stock, down from their prior price objective of C$28.00.

A number of other analysts have also recently issued reports on CVE. BMO Capital Markets decreased their target price on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. Raymond James raised their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Jefferies Financial Group reduced their target price on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Finally, TD Securities lowered their price target on Cenovus Energy from C$31.00 to C$29.00 and set a "buy" rating for the company in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$29.89.

Cenovus Energy Trading Down 2.0 %

Cenovus Energy stock traded down C$0.41 during midday trading on Friday, reaching C$20.13. The stock had a trading volume of 4,302,743 shares, compared to its average volume of 4,978,697. The stock has a market capitalization of C$36.67 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. 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 simple moving average is C$21.50 and its 200 day simple moving average is C$22.70. Cenovus Energy has a twelve month low of C$19.80 and a twelve month high of C$29.96.

Cenovus Energy Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.58%. Cenovus Energy's dividend payout ratio is presently 35.49%.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of C$21.74 per share, with a total value of C$100,004.00. Also, insider Cenovus Energy Inc. acquired 44,700 shares of the business's stock in a transaction on Monday, December 2nd. The shares were purchased at an average price of C$22.07 per share, for a total transaction of C$986,658.63. Over the last ninety days, insiders have acquired 65,300 shares of company stock valued at $1,427,360. 32.03% of the stock is currently owned by insiders.

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.