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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has earned a consensus rating of “Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$39.00.

A number of research firms have commented on CVE. Royal Bank Of Canada upped their price objective on shares of Cenovus Energy from C$32.00 to C$42.00 and gave the company an “outperform” rating in a research note on Wednesday, April 8th. Morgan Stanley dropped their target price on Cenovus Energy from C$31.00 to C$29.00 in a report on Friday, January 23rd. TD Securities upped their target price on Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a report on Friday, February 20th. ATB Cormark Capital Markets upped their target price on Cenovus Energy from C$29.00 to C$34.00 in a report on Monday, February 23rd. Finally, Scotiabank upped their target price on Cenovus Energy from C$30.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday, February 20th.

Cenovus Energy Price Performance

CVE stock opened at C$41.51 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 53.80. Cenovus Energy has a one year low of C$16.02 and a one year high of C$42.01. The firm has a market capitalization of C$78.02 billion, a PE ratio of 19.31, a P/E/G ratio of 0.09 and a beta of 0.23. The firm has a 50-day moving average of C$34.46 and a two-hundred day moving average of C$28.40.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data 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 during the quarter. On average, analysts forecast that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 36.28%.

Insiders Place Their Bets

In related news, insider John F. Soini sold 10,275 shares of the firm’s stock in a transaction that occurred 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 owned 2,114 shares of the company’s stock, valued at approximately C$74,264.82. This trade represents a 82.94% decrease in their ownership of the stock. Insiders own 32.03% of the company’s stock.

About Cenovus Energy

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.