Analysts Set Cenovus Energy Inc. (TSE:CVE) Target Price at C$32.77

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$32.92.

A number of equities analysts recently commented on CVE shares. BMO Capital Markets lowered their price target on shares of Cenovus Energy from C$33.00 to C$31.00 in a research report on Friday, October 4th. 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 research note on Monday, September 16th. TD Securities upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada decreased their price target on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Finally, National Bankshares cut their price objective on shares of Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th.

Cenovus Energy Price Performance

Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The firm has a market cap of C$45.61 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. 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 stock’s 50-day moving average is C$24.32 and its 200-day moving average is C$26.39.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts expect that Cenovus Energy will post 2.0660125 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 annualized dividend and a yield of ∞. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson acquired 7,500 shares of Cenovus Energy stock in a transaction on Monday, August 12th. The stock was bought at an average cost of C$25.98 per share, for a total transaction of C$194,850.00. In related news, Senior Officer Jeffery George Lawson acquired 7,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of C$25.98 per share, with a total value of C$194,850.00. Also, Senior Officer Jonathan Michael Mckenzie acquired 100,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of C$22.25 per share, for a total transaction of C$2,225,000.00. Over the last ninety days, insiders purchased 152,200 shares of company stock worth $3,459,477. 32.03% of the stock is owned by corporate insiders.

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.