Cenovus Energy (TSE:CVE) Given New C$29.00 Price Target at TD Securities

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by TD Securities from C$31.00 to C$29.00 in a research note published on Friday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

CVE has been the topic of a number of other research reports. Raymond James reduced their target price on Cenovus Energy from C$33.00 to C$32.00 in a report on Tuesday, October 15th. Jefferies Financial Group cut 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. Royal Bank of Canada decreased their price target 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, November 1st. BMO Capital Markets decreased their price target on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, National Bankshares reduced their price objective on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cenovus Energy currently has an average rating of “Buy” and a consensus price target of C$31.50.

Cenovus Energy Stock Performance

TSE CVE opened at C$21.71 on Friday. The business’s 50-day moving average price is C$22.71 and its 200 day moving average price is C$24.60. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The company has a market capitalization of C$40.38 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

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

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 4,600 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of C$21.74 per share, with a total value of C$100,004.00. Also, Senior Officer Geoffrey Murray acquired 3,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average price of C$22.54 per share, for a total transaction of C$72,112.00. In the last 90 days, insiders have purchased 12,300 shares of company stock valued at $273,236. Company 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.