Cenovus Energy Inc. (TSE:CVE) Given Consensus Rating of “Buy” by Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received an average rating of “Buy” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and three have given a strong buy recommendation 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$38.58.

Several research analysts recently commented on the stock. Raymond James Financial lifted their target price on shares of Cenovus Energy from C$33.00 to C$42.00 in a research note on Monday, March 30th. BMO Capital Markets decreased their target price on shares of Cenovus Energy from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. UBS Group lifted their target price on shares of Cenovus Energy from C$36.00 to C$41.00 in a research note on Thursday, April 9th. Scotiabank lifted their target price on shares of Cenovus Energy from C$30.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, March 10th.

Cenovus Energy Trading Down 1.4%

CVE stock opened at C$34.97 on Friday. The company has a market capitalization of C$65.73 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.09 and a beta of 0.07. Cenovus Energy has a one year low of C$15.82 and a one year high of C$38.50. The company’s 50 day moving average price is C$32.72 and its two-hundred day moving average price is C$27.31. The company has a debt-to-equity ratio of 53.80, a quick ratio of 1.00 and a current ratio of 1.57.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Thursday, February 19th. The company reported C$0.50 EPS for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. The company had revenue of C$10.88 billion for the quarter. As a group, analysts predict that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy’s payout ratio is presently 36.28%.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, insider John F. Soini sold 10,275 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$35.13, for a total transaction of C$360,960.75. Following the transaction, the insider directly owned 2,114 shares of the company’s stock, valued at approximately C$74,264.82. The trade was a 82.94% decrease in their position. Insiders own 32.03% of the company’s stock.

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.