Cenovus Energy (TSE:CVE) PT Raised to C$37.00 at ATB Capital

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) had its target price boosted by ATB Capital from C$35.00 to C$37.00 in a research report sent to investors on Monday morning, Marketbeat reports.

Several other brokerages also recently commented on CVE. Raymond James increased their price objective on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the company an outperform rating in a research report on Thursday, November 3rd. Royal Bank of Canada upped their target price on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the company an outperform rating in a research note on Thursday, November 3rd. Jefferies Financial Group set a C$35.00 target price on shares of Cenovus Energy and gave the company a buy rating in a research note on Wednesday, October 19th. National Bankshares lowered their target price on shares of Cenovus Energy from C$38.00 to C$36.00 in a research note on Friday, September 30th. Finally, Scotiabank lowered their target price on shares of Cenovus Energy from C$34.00 to C$33.00 in a research note on Thursday, October 13th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of C$30.87.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$26.98 on Monday. Cenovus Energy has a one year low of C$13.86 and a one year high of C$31.19. The company’s 50-day moving average is C$25.46 and its 200 day moving average is C$25.17. The company has a market capitalization of C$51.77 billion and a price-to-earnings ratio of 10.34. The company has a debt-to-equity ratio of 41.92, a quick ratio of 1.00 and a current ratio of 1.55.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 17th. Cenovus Energy’s payout ratio is 10.73%.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Keith Chiasson purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The stock was purchased at an average cost of C$20.07 per share, for a total transaction of C$200,692.00. Following the completion of the transaction, the insider now owns 93,280 shares of the company’s stock, valued at C$1,872,054.98. In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of C$24.79, for a total value of C$4,957,920.00. Following the sale, the director now owns 1,129,894 shares of the company’s stock, valued at approximately C$28,009,620.30. Also, Senior Officer Keith Chiasson acquired 10,000 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was acquired at an average price of C$20.07 per share, for a total transaction of C$200,692.00. Following the acquisition, the insider now owns 93,280 shares in the company, valued at approximately C$1,872,054.98.

Cenovus Energy Company Profile

(Get Rating)

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, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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