Cenovus Energy Inc. (TSE:CVE) Receives C$34.08 Average PT from Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$33.54.

CVE has been the subject of a number of recent research reports. Scotiabank dropped their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Raymond James set a C$33.00 target price on shares of Cenovus Energy and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Royal Bank of Canada reduced their price target on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday. Desjardins upped their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group reduced their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a report on Monday.

Cenovus Energy Stock Up 3.2 %

TSE CVE opened at C$23.35 on Friday. The stock has a market capitalization of C$43.43 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. The stock has a fifty day moving average of C$25.42 and a 200-day moving average of C$26.52.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of C$13.44 billion. On average, equities research analysts forecast that Cenovus Energy will post 2.5066667 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.08%. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insiders Place Their Bets

In other news, Director Alex Pourbaix sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$26.03, for a total value of C$5,206,700.00. In other news, Senior Officer Jeffery George Lawson acquired 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of C$21.92 per share, for a total transaction of C$197,280.00. Also, Director Alex Pourbaix sold 200,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$26.03, for a total value of C$5,206,700.00. In the last three months, insiders have purchased 148,200 shares of company stock worth $3,369,477. 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.