Raymond James Raises Cenovus Energy (TSE:CVE) Price Target to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective upped by Raymond James from C$32.00 to C$33.00 in a report published on Friday,BayStreet.CA reports.

CVE has been the topic of several other research reports. TD Securities cut their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets cut their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada dropped their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group dropped their price objective on shares of 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. Finally, National Bankshares cut their price target on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy has an average rating of “Buy” and an average price target of C$31.50.

Cenovus Energy Stock Up 1.0 %

Cenovus Energy stock opened at C$21.71 on Friday. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The firm has a market capitalization of C$40.38 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm’s fifty day moving average price is C$22.71 and its two-hundred day moving average price is C$24.60.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s payout ratio is 28.69%.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Geoffrey Murray acquired 3,200 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was bought at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Jeffery George Lawson acquired 4,000 shares of Cenovus Energy stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. Over the last three months, insiders have purchased 12,300 shares of company stock worth $273,236. Insiders own 32.03% 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.