Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received an average rating of “Buy” from the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$19.53.
CVE has been the topic of a number of recent research reports. TD Securities upped their target price on Cenovus Energy from C$19.50 to C$21.00 and gave the company a “buy” rating in a research report on Thursday, November 4th. Credit Suisse Group boosted their price target on Cenovus Energy to C$22.00 and gave the company an “outperform” rating in a report on Thursday, January 6th. National Bankshares boosted their price target on Cenovus Energy from C$22.00 to C$25.00 in a report on Thursday, January 6th. Morgan Stanley initiated coverage on Cenovus Energy in a report on Thursday, October 7th. They issued a “buy” rating and a C$18.00 price target for the company. Finally, Citigroup boosted their price target on Cenovus Energy from C$14.00 to C$17.00 in a report on Wednesday, October 20th.
In other news, Senior Officer Karamjit Singh Sandhar acquired 10,000 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, December 29th. The stock was purchased at an average cost of C$15.65 per share, with a total value of C$156,500.00. Following the purchase, the insider now owns 38,562 shares in the company, valued at C$603,495.30.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Wednesday, November 3rd. The company reported C$0.27 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.44 by C($0.17). The company had revenue of C$13.43 billion during the quarter. As a group, research analysts expect that Cenovus Energy will post 2.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were paid a $0.035 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.02. This represents a $0.14 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, December 14th. Cenovus Energy’s dividend payout ratio is currently 12.07%.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.
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