Cenovus Energy (TSE:CVE) Price Target Raised to C$35.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target lifted by TD Securities from C$28.00 to C$35.00 in a research report released on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently commented on CVE. The Goldman Sachs Group upgraded shares of Cenovus Energy to a “strong-buy” rating in a report on Friday, January 2nd. Royal Bank Of Canada reduced their price objective on shares of Cenovus Energy from C$32.00 to C$29.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Morgan Stanley lowered their target price on Cenovus Energy from C$31.00 to C$29.00 in a research report on Friday, January 23rd. JPMorgan Chase & Co. lowered Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 target price on the stock. in a report on Tuesday, January 20th. Finally, National Bank Financial raised their price target on Cenovus Energy from C$29.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$31.50.

Cenovus Energy Stock Down 2.5%

TSE:CVE opened at C$30.88 on Friday. The stock has a 50-day simple moving average of C$25.59 and a 200 day simple moving average of C$24.36. Cenovus Energy has a 52-week low of C$14.48 and a 52-week high of C$32.04. The company has a market cap of C$58.25 billion, a PE ratio of 17.85, a PEG ratio of 0.09 and a beta of 0.65. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.6%. Cenovus Energy’s payout ratio is presently 43.93%.

Insider Transactions at Cenovus Energy

In related news, Director Michael John Crothers acquired 2,000 shares of Cenovus Energy stock in a transaction on Monday, December 15th. The stock was purchased at an average cost of C$24.23 per share, with a total value of C$48,460.00. Following the completion of the transaction, the director directly owned 8,000 shares in the company, valued at C$193,840. This trade represents a 33.33% increase in their position. 32.03% of the stock is owned by corporate insiders.

Cenovus Energy News Summary

Here are the key news stories impacting Cenovus Energy this week:

• Positive Sentiment: Q4 results showed record production and an earnings beat, reinforcing the company’s operational story after the MEG acquisition — a clear fundamental positive for future cash flow and shareholder returns. Cenovus reports production records, focuses on boosting operations after acquiring MEG
• Positive Sentiment: Multiple brokerages raised price targets and ratings today (TD to C$35, Desjardins to C$36, Scotiabank to C$34, Raymond James to C$33, RBC to C$32), signaling analyst confidence and implying mid‑single- to mid‑teens upside from current levels. BayStreet.CA analyst roundup
• Neutral Sentiment: Elevated trading volume and the stock sitting near its 1‑year high indicate active profit-taking and rotation; technicals (50/200-day averages both well below current price) support the view that recent strength may be consolidating rather than reversing.
• Negative Sentiment: BMO trimmed its price target (from C$38 to C$35) — still an outperform rating, but the cut is a relative negative among the otherwise upbeat analyst moves and could contribute to intraday selling pressure. BayStreet.CA analyst roundup

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.