Analysts Set Cenovus Energy Inc. (TSE:CVE) PT at C$31.90

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been given a consensus rating of “Buy” by the ten research firms that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$31.90.

Several equities research analysts recently commented on CVE shares. Royal Bank of Canada dropped their target price on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Raymond James lowered their price objective on Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th. National Bankshares lowered their price objective on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. TD Securities upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group lowered their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research note on Monday, September 16th.

Cenovus Energy Stock Performance

Shares of TSE:CVE opened at C$22.18 on Wednesday. The company has a market cap of C$41.25 billion, a P/E ratio of 8.84, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The business’s 50-day simple moving average is C$22.94 and its 200 day simple moving average is C$25.01.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.25%. Cenovus Energy’s payout ratio is 28.69%.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Keith Chiasson purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of C$23.40 per share, with a total value of C$585,000.00. Also, Senior Officer Jeffery George Lawson purchased 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average cost of C$21.92 per share, for a total transaction of C$197,280.00. In the last quarter, insiders bought 141,700 shares of company stock worth $3,180,512. 32.03% of the stock is currently owned by corporate insiders.

Cenovus Energy Company Profile

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.