Cenovus Energy Inc. (TSE:CVE) Receives C$31.90 Average PT from Brokerages

Shares of Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE have been assigned a consensus recommendation of "Buy" from the ten brokerages that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$31.90.

CVE has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set an "outperform" rating for the company in a research report on Friday. Desjardins upped their target price on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Jefferies Financial Group cut their price target on Cenovus Energy from C$36.00 to C$33.00 and set a "buy" rating on the stock in a report on Monday, September 16th. National Bankshares decreased their price objective on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Finally, BMO Capital Markets lowered their target price on Cenovus Energy from C$31.00 to C$28.00 and set an "outperform" rating on the stock in a research report on Friday.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 9,000 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of C$21.92 per share, for a total transaction of C$197,280.00. In related news, Senior Officer Jonathan Michael Mckenzie purchased 100,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of C$22.25 per share, with a total value of C$2,225,000.00. Also, Senior Officer Jeffery George Lawson acquired 9,000 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of C$21.92 per share, for a total transaction of C$197,280.00. Insiders bought 152,200 shares of company stock valued at $3,459,477 over the last 90 days. 32.03% of the stock is currently owned by corporate insiders.

Cenovus Energy Stock Performance

CVE stock traded down C$0.50 during midday trading on Friday, reaching C$21.89. The company had a trading volume of 3,967,939 shares, compared to its average volume of 5,314,653. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The stock has a 50 day moving average price of C$23.53 and a 200 day moving average price of C$25.88. The firm has a market capitalization of C$40.72 billion, a PE ratio of 8.72, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing analysts' consensus estimates of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The company had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. Analysts anticipate that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.29%. Cenovus Energy's dividend payout ratio (DPR) is 28.69%.

Cenovus Energy Company Profile

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.