TD Securities Raises Cenovus Energy (TSE:CVE) Price Target to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target upped by TD Securities from C$30.00 to C$32.00 in a research report report published on Thursday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

CVE has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Royal Bank of Canada upped their target price on Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. Desjardins raised their target price on Cenovus Energy from C$29.50 to C$31.50 and gave the company a buy rating in a research note on Tuesday, April 23rd. BMO Capital Markets upped their price target on Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. Finally, CIBC increased their price objective on Cenovus Energy from C$31.00 to C$35.00 and gave the stock an outperform rating in a report on Monday, April 22nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of C$33.19.

Cenovus Energy Trading Down 0.5 %

CVE opened at C$28.03 on Thursday. The firm has a market capitalization of C$52.42 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.09 and a beta of 2.78. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The business has a 50 day simple moving average of C$26.88 and a two-hundred day simple moving average of C$24.46. The company has a debt-to-equity ratio of 33.03, a current ratio of 1.70 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. The company had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. During the same quarter in the prior year, the company earned $0.39 earnings per share. Analysts predict that Cenovus Energy will post 2.7862823 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.18 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.72 dividend on an annualized basis and a yield of 2.57%. Cenovus Energy’s payout ratio is presently 30.58%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of Cenovus Energy stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. In the last ninety days, insiders have sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is owned by 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.