Cenovus Energy (TSE:CVE) Trading Down 5.9%

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE)’s share price dropped 5.9% during mid-day trading on Monday . The stock traded as low as C$25.47 and last traded at C$25.52. Approximately 362,521 shares were traded during trading, a decline of 95% from the average daily volume of 7,353,568 shares. The stock had previously closed at C$27.13.

Analysts Set New Price Targets

CVE has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. Scotiabank dropped their price target on shares of Cenovus Energy from C$34.00 to C$33.00 in a research note on Thursday, October 13th. ATB Capital lifted their price target on shares of Cenovus Energy from C$35.00 to C$37.00 in a research note on Monday. Jefferies Financial Group set a C$35.00 price target on shares of Cenovus Energy and gave the stock a “buy” rating in a research note on Wednesday, October 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cenovus Energy from C$34.00 to C$36.00 in a research report on Friday, July 29th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$30.87.

Cenovus Energy Price Performance

The company’s fifty day moving average price is C$25.39 and its 200 day moving average price is C$25.15. The company has a debt-to-equity ratio of 41.92, a quick ratio of 1.00 and a current ratio of 1.55. The firm has a market capitalization of C$52.67 billion and a price-to-earnings ratio of 10.52.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, November 17th. Cenovus Energy’s dividend payout ratio (DPR) is presently 10.73%.

Insider Activity

In other news, Senior Officer Keith Chiasson bought 10,000 shares of Cenovus Energy stock in a transaction on Monday, September 26th. The stock was purchased at an average cost of C$20.07 per share, with a total value of C$200,692.00. Following the purchase, the insider now directly owns 93,280 shares of the company’s stock, valued at approximately C$1,872,054.98. In other news, Senior Officer Keith Chiasson bought 10,000 shares of Cenovus Energy stock in a transaction on Monday, September 26th. The stock was purchased at an average cost of C$20.07 per share, with a total value of C$200,692.00. Following the purchase, the insider now directly owns 93,280 shares of the company’s stock, valued at approximately C$1,872,054.98. Also, Senior Officer Andrew Dahlin sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of C$25.43, for a total transaction of C$1,017,000.00. Following the transaction, the insider now directly owns 25,523 shares of the company’s stock, valued at C$648,922.28.

Cenovus Energy Company Profile

(Get Rating)

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.

Featured Stories

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.