Analysts Set Cenovus Energy Inc. (TSE:CVE) Price Target at C$31.20

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received a consensus rating of “Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$31.20.

Several analysts recently weighed in on the stock. TD Securities reduced their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Jefferies Financial Group decreased their price objective on shares of Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Raymond James increased their target price on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. National Bankshares decreased their price target on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, BMO Capital Markets dropped their price objective on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of C$21.17 per share, for a total transaction of C$105,832.00. Insiders have bought a total of 14,600 shares of company stock valued at $317,531 over the last quarter. Company insiders own 32.03% of the company’s stock.

Cenovus Energy Price Performance

CVE stock opened at C$21.08 on Friday. The business’s 50-day moving average is C$22.09 and its two-hundred day moving average is C$24.15. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The firm has a market capitalization of C$39.21 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.42%. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Cenovus Energy Company Profile

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.