Cenovus Energy Inc. (TSE:CVE) Receives C$30.33 Average Target Price from Brokerages

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been given an average rating of “Buy” by the eight brokerages that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$30.33.

CVE has been the topic of a number of research analyst reports. National Bankshares cut their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group cut their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Royal Bank of Canada cut their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Raymond James boosted their price objective on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Finally, BMO Capital Markets lowered their price objective on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th.

Cenovus Energy Price Performance

Shares of TSE:CVE opened at C$21.68 on Monday. The company’s 50-day moving average is C$21.51 and its 200 day moving average is C$22.89. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The company has a market capitalization of C$39.49 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. Cenovus Energy has a fifty-two week low of C$20.16 and a fifty-two week high of C$29.96.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy’s dividend payout ratio is presently 35.49%.

Insider Activity

In related news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. Also, insider Cenovus Energy Inc. acquired 44,700 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average price of C$22.07 per share, for a total transaction of C$986,658.63. Insiders have purchased a total of 54,800 shares of company stock worth $1,203,070 over the last ninety days. Company 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.