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

Shares of Cenovus Energy Inc. (TSE:CVEGet Free Report) (NYSE:CVE) have received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$33.54.

A number of brokerages have recently issued reports on CVE. BMO Capital Markets boosted their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. Desjardins boosted their target price on shares of 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. TD Securities lifted their price objective on Cenovus Energy from C$30.00 to C$32.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Jefferies Financial Group lifted their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, National Bankshares lifted their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19th.

Check Out Our Latest Analysis on Cenovus Energy

Cenovus Energy Stock Up 1.1 %

TSE CVE opened at C$27.52 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.70 and a debt-to-equity ratio of 33.03. The company has a fifty day moving average of C$27.62 and a two-hundred day moving average of C$24.52. The firm has a market capitalization of C$51.46 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The company had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a net margin of 8.72% and a return on equity of 16.11%. During the same period in the previous year, the firm earned $0.39 earnings per share. On average, analysts predict that Cenovus Energy will post 2.7862823 earnings per share for the current year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a yield of 2.62%. Cenovus Energy’s payout ratio is currently 30.58%.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. Over the last ninety days, insiders sold 267,180 shares of company stock worth $7,506,016. 31.50% of the stock is owned by corporate insiders.

Cenovus Energy Company Profile

(Get Free Report

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.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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