Cenovus Energy Inc. (TSE:CVE) Given Average Recommendation of “Buy” by Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been given a consensus recommendation of “Buy” by the nine brokerages that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$31.20.

A number of equities analysts have weighed in on CVE shares. TD Securities decreased their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada cut their target price 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. National Bankshares cut their price objective on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group cut their target price on shares of Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Raymond James upped their price objective on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of C$22.50 per share, with a total value of C$90,000.00. Over the last ninety days, insiders purchased 9,600 shares of company stock valued at $211,699. Corporate insiders own 32.03% of the company’s stock.

Cenovus Energy Stock Performance

CVE stock opened at C$21.11 on Friday. The stock’s 50 day simple moving average is C$22.17 and its 200 day simple moving average is C$24.24. 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 12-month low of C$19.82 and a 12-month high of C$29.96. The stock has a market capitalization of C$39.26 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s payout ratio is currently 28.69%.

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.