Cenovus Energy Inc (CVE) Receives Average Recommendation of “Hold” from Analysts
Shares of Cenovus Energy Inc (TSE:CVE) have received a consensus rating of “Buy” from the fifteen brokerages that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$21.07.
A number of equities analysts have recently commented on the company. Scotiabank restated an “outperform” rating and issued a C$20.00 price objective on shares of Cenovus Energy in a report on Friday, July 29th. TD Securities reiterated a “buy” rating and set a C$21.00 target price on shares of Cenovus Energy in a report on Friday, July 29th. JPMorgan Chase & Co. raised their target price on Cenovus Energy from C$18.00 to C$19.00 in a report on Monday, July 11th. Desjardins set a C$24.00 target price on Cenovus Energy in a report on Tuesday, June 28th. Finally, Raymond James Financial Inc. raised their target price on Cenovus Energy from C$19.00 to C$21.00 in a report on Wednesday.
Cenovus Energy (TSE:CVE) traded up 1.08% during trading on Thursday, reaching $20.51. 1,280,825 shares of the company’s stock were exchanged. The stock has a market capitalization of $17.09 billion and a PE ratio of 22.17. The stock has a 50-day moving average of $18.80 and a 200-day moving average of $18.65. Cenovus Energy has a 52 week low of $12.74 and a 52 week high of $21.81.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.99%.
Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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