Cenovus Energy (TSE:CVE) Price Target Raised to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price boosted by Desjardins from C$31.50 to C$33.00 in a research note issued to investors on Monday,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other analysts also recently issued reports on CVE. JPMorgan Chase & Co. reduced their price target on shares of Cenovus Energy from C$32.00 to C$29.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. National Bankshares reduced their target price on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Scotiabank increased their price target on Cenovus Energy from C$27.00 to C$29.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Morgan Stanley lifted their price objective on Cenovus Energy from C$26.00 to C$31.00 in a research note on Thursday, November 20th. Finally, ATB Capital upped their price objective on Cenovus Energy from C$25.00 to C$28.00 and gave the stock an “outperform” rating in a report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$29.17.

Cenovus Energy Stock Up 0.4%

TSE CVE opened at C$24.67 on Monday. The stock’s 50 day moving average is C$24.29 and its 200 day moving average is C$21.68. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. Cenovus Energy has a 12 month low of C$14.48 and a 12 month high of C$26.36. The stock has a market cap of C$46.54 billion, a PE ratio of 14.26, a P/E/G ratio of 0.09 and a beta of 0.41.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Friday, October 31st. The company reported C$0.72 earnings per share (EPS) for the quarter. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.67%. The business had revenue of C$13.20 billion during the quarter. Research analysts predict that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. Cenovus Energy’s payout ratio is currently 43.93%.

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.