TD Securities Raises Cenovus Energy (TSE:CVE) Price Target to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target increased by TD Securities from C$30.00 to C$32.00 in a research report report published on Thursday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other equities analysts have also recently commented on CVE. CIBC raised their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the company an outperform rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price target on Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. National Bankshares boosted their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Royal Bank of Canada upped their target price on shares of Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. Finally, BMO Capital Markets lifted their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$33.19.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$28.03 on Thursday. The company has a debt-to-equity ratio of 33.03, a quick ratio of 1.00 and a current ratio of 1.70. The firm has a market cap of C$52.42 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.09 and a beta of 2.78. The firm’s 50 day moving average price is C$26.88 and its 200-day moving average price is C$24.49. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results 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. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same period last year, the business posted $0.39 earnings per share. As a group, equities research analysts predict that Cenovus Energy will post 2.7862823 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.18 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, May 16th. Cenovus Energy’s dividend payout ratio (DPR) is currently 30.58%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. Also, Senior Officer Gary Frederick Molnar sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of C$29.06, for a total transaction of C$697,332.00. Insiders sold a total of 87,000 shares of company stock valued at $2,414,507 over the last ninety days. Insiders own 31.50% of the company’s stock.

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.