Brokerages Set Cenovus Energy Inc. (TSE:CVE) Price Target at C$33.50

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$33.50.

Several equities research analysts recently weighed in on CVE shares. TD Securities upped their price objective on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price target on shares of Cenovus Energy from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Desjardins boosted their price objective on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. National Bankshares raised their target price on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research note on Friday, April 12th.

Insider Activity

In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$25.14, for a total value of C$5,028,880.00. In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of Cenovus Energy stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$25.14, for a total transaction of C$5,028,880.00. Also, Senior Officer Norrie Carson Ramsay sold 40,084 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$25.87, for a total value of C$1,037,065.27. Over the last three months, insiders have bought 13,000 shares of company stock valued at $321,710 and have sold 906,176 shares valued at $23,920,484. Insiders own 31.50% of the company’s stock.

Cenovus Energy Stock Up 2.7 %

TSE CVE opened at C$27.61 on Friday. The company has a market cap of C$51.63 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.09 and a beta of 2.77. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03. The company has a 50 day moving average of C$27.28 and a 200-day moving average of C$25.16.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$0.62 earnings per share for the quarter, beating the consensus estimate of C$0.47 by C$0.15. The firm had revenue of C$13.40 billion during the quarter, compared to analysts’ expectations of C$13.71 billion. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. On average, equities research analysts expect that Cenovus Energy will post 2.7840467 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were given a $0.18 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.72 annualized dividend and a yield of 2.61%. Cenovus Energy’s dividend payout ratio is presently 29.72%.

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.