Cenovus Energy Inc. (TSE:CVE) Receives C$32.19 Consensus Price Target from Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$32.19.

A number of research analysts recently weighed in on CVE shares. JPMorgan Chase & Co. dropped their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. CIBC raised their price target on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Desjardins lifted their price objective on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the stock a “buy” rating in a research report on Friday, March 22nd. National Bankshares lowered their price objective on shares of Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research report on Friday, April 12th.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at C$28.46 on Tuesday. The company has a 50 day moving average of C$25.62 and a 200-day moving average of C$24.42. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. The company has a market cap of C$53.22 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to analysts’ expectations of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same period last year, the company posted $0.39 earnings per share. As a group, equities research analysts forecast that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s payout ratio is currently 26.42%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the 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. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the 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 transaction of C$525,835.80. In the last ninety days, insiders have sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is currently owned by company insiders.

About Cenovus Energy

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.