Cenovus Energy Inc. (TSE:CVE) Given Average Rating of “Buy” by Brokerages

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received an average rating of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$31.90.

Several brokerages recently weighed in on CVE. Scotiabank reduced their price target on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. National Bankshares reduced their price target on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. TD Securities raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Raymond James lowered their price target on Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada cut their price objective 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.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of C$27.21 per share, for a total transaction of C$95,235.00. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of C$22.25 per share, with a total value of C$2,225,000.00. Also, Senior Officer Jeffery George Lawson bought 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of C$27.21 per share, for a total transaction of C$95,235.00. Over the last quarter, insiders acquired 152,200 shares of company stock worth $3,459,477. Corporate insiders own 32.03% of the company’s stock.

Cenovus Energy Trading Down 2.2 %

Cenovus Energy stock opened at C$21.89 on Friday. The stock has a 50-day moving average of C$23.53 and a two-hundred day moving average of C$25.88. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The stock has a market cap of C$40.72 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of C$14.89 billion during the quarter, compared to analysts’ expectations of C$13.44 billion. On average, research analysts anticipate that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

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

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.