Cenovus Energy (TSE:CVE) Price Target Lowered to C$28.00 at Royal Bank of Canada

Cenovus Energy (TSE:CVE - Free Report) NYSE: CVE had its target price lowered by Royal Bank of Canada from C$29.00 to C$28.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on CVE. 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 report on Monday, September 16th. BMO Capital Markets decreased their price target on Cenovus Energy from C$31.00 to C$28.00 and set an "outperform" rating on the stock in a research note on Friday. National Bankshares decreased their price target on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Raymond James decreased their price target on Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th. Finally, Scotiabank decreased their price target on Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$31.90.

Cenovus Energy Stock Performance

TSE:CVE traded down C$0.50 during trading hours on Friday, reaching C$21.89. 3,967,939 shares of the company's stock were exchanged, compared to its average volume of 5,314,653. The firm has a market capitalization of C$40.72 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a 50-day moving average of C$23.60 and a 200 day moving average of C$25.93. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96.

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

Cenovus Energy Announces Dividend

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

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson acquired 4,000 shares of Cenovus Energy stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. In related news, Senior Officer Jonathan Michael Mckenzie acquired 100,000 shares of Cenovus Energy stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of C$22.25 per share, for a total transaction of C$2,225,000.00. Also, Senior Officer Jeffery George Lawson bought 4,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of C$22.50 per share, for a total transaction of C$90,000.00. Over the last 90 days, insiders have bought 152,200 shares of company stock valued at $3,459,477. Insiders own 32.03% of the company's stock.

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.