Analysts Set Cenovus Energy Inc. (TSE:CVE) Price Target at C$34.08

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$34.08.

Several equities research analysts have recently weighed in on the company. Scotiabank decreased their price target on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. National Bankshares upped their price target on Cenovus Energy from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Desjardins upped their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Raymond James set a C$33.00 price objective on shares of Cenovus Energy and gave the stock an “outperform” rating in a research report on Wednesday, May 29th.

Cenovus Energy Trading Down 0.1 %

Shares of CVE opened at C$22.03 on Friday. The business’s 50-day moving average price is C$25.73 and its 200-day moving average price is C$26.56. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The stock has a market cap of C$40.98 billion, a PE ratio of 8.78, a P/E/G ratio of 0.09 and a beta of 2.67. 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 (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.19). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. The company had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. On average, equities analysts forecast that Cenovus Energy will post 2.5066667 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s payout ratio is currently 28.69%.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of C$25.58, for a total transaction of C$5,115,360.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 3,500 shares of Cenovus Energy stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of C$27.21 per share, for a total transaction of C$95,235.00. Also, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of C$25.58, for a total transaction of C$5,115,360.00. Over the last ninety days, insiders have acquired 145,000 shares of company stock worth $3,297,365 and have sold 440,084 shares worth $11,359,125. Company insiders own 31.71% of the company’s stock.

About Cenovus Energy

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.