Cenovus Energy Inc. (TSE:CVE) Receives Consensus Recommendation of “Buy” from Brokerages

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) has received an average recommendation of “Buy” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$27.97.

A number of research analysts recently commented on CVE shares. CSFB set a C$37.00 price target on Cenovus Energy and gave the company an “outperform” rating in a report on Thursday, August 11th. Scotiabank increased their target price on Cenovus Energy from C$25.00 to C$34.00 in a report on Wednesday, June 8th. Credit Suisse Group reaffirmed an “outperform” rating and set a C$37.00 target price on shares of Cenovus Energy in a report on Thursday, August 11th. CIBC reduced their target price on Cenovus Energy from C$34.00 to C$32.00 in a report on Wednesday, August 31st. Finally, National Bankshares reduced their target price on Cenovus Energy from C$41.00 to C$38.00 and set an “outperform” rating on the stock in a report on Monday, July 18th.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of Cenovus Energy stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of C$24.79, for a total transaction of C$4,957,920.00. Following the sale, the director now directly owns 1,129,894 shares of the company’s stock, valued at C$28,009,620.30. In other Cenovus Energy news, Senior Officer Jeffrey Ryan Hart bought 4,000 shares of Cenovus Energy stock in a transaction dated Monday, June 27th. The shares were acquired at an average cost of C$24.90 per share, with a total value of C$99,600.00. Following the acquisition, the insider now directly owns 48,803 shares of the company’s stock, valued at C$1,215,194.70. Also, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of C$24.79, for a total value of C$4,957,920.00. Following the completion of the transaction, the director now directly owns 1,129,894 shares in the company, valued at C$28,009,620.30. Over the last ninety days, insiders have sold 390,396 shares of company stock valued at $9,720,549.

Cenovus Energy Trading Down 1.4 %

Shares of CVE opened at C$24.58 on Monday. The company has a market capitalization of C$47.46 billion and a P/E ratio of 11.93. Cenovus Energy has a one year low of C$10.48 and a one year high of C$31.19. The company has a debt-to-equity ratio of 53.62, a quick ratio of 1.08 and a current ratio of 1.73. The stock has a 50-day moving average price of C$23.43 and a 200 day moving average price of C$23.87.

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) last issued its quarterly earnings results on Thursday, July 28th. The company reported C$1.19 EPS for the quarter, beating analysts’ consensus estimates of C$1.15 by C$0.04. The business had revenue of C$19.17 billion during the quarter, compared to analysts’ expectations of C$16.97 billion. Sell-side analysts forecast that Cenovus Energy will post 4.3424834 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, September 14th. Cenovus Energy’s payout ratio is 9.34%.

About Cenovus Energy

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Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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