National Bankshares Lowers Cenovus Energy (TSE:CVE) Price Target to C$28.00

Cenovus Energy (TSE:CVE - Free Report) NYSE: CVE had its target price reduced by National Bankshares from C$29.00 to C$28.00 in a research note published on Thursday morning,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price target on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Royal Bank of Canada decreased their target price on 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 Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Jefferies Financial Group decreased their target price on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday. Finally, TD Securities cut their price target on Cenovus Energy from C$31.00 to C$29.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$30.33.

Cenovus Energy Trading Down 2.2 %

CVE traded down C$0.46 during midday trading on Thursday, reaching C$20.56. 5,282,357 shares of the company were exchanged, compared to its average volume of 4,671,313. Cenovus Energy has a one year low of C$20.16 and a one year high of C$29.96. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. The stock has a market capitalization of C$38.24 billion, a P/E ratio of 8.19, a PEG ratio of 0.09 and a beta of 2.63. The stock's 50-day simple moving average is C$21.61 and its 200 day simple moving average is C$23.32.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last released its quarterly earnings results on Thursday, October 31st. The company reported C$0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. During the same period in the prior year, the company earned $0.97 earnings per share. As a group, analysts forecast that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.50%. Cenovus Energy's dividend payout ratio is currently 28.69%.

Insider Buying and Selling

In related news, Senior Officer Jeffery George Lawson purchased 5,000 shares of the company's stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of C$21.17 per share, for a total transaction of C$105,832.00. Also, insider Cenovus Energy Inc. acquired 44,700 shares of the 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. In the last 90 days, insiders acquired 54,800 shares of company stock valued at $1,203,070. 32.03% of the stock is owned by company 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.