Cenovus Energy Inc. (TSE:CVE) Given Average Rating of “Moderate Buy” by Brokerages

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$32.19.

CVE has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Jefferies Financial Group raised their target price on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday. National Bankshares decreased their target price on shares of Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Desjardins raised their target price on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets raised their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th.

Cenovus Energy Price Performance

Shares of TSE:CVE opened at C$28.34 on Tuesday. The firm’s 50 day moving average price is C$25.20 and its 200-day moving average price is C$24.36. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64. The stock has a market capitalization of C$53.00 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The firm had revenue of C$13.13 billion for the quarter, compared to analysts’ expectations of C$13.06 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Equities research analysts expect that Cenovus Energy will post 2.6887232 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is currently 26.42%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Senior Officer Gary Frederick Molnar sold 24,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of C$29.06, for a total transaction of C$697,332.00. Insiders sold a total of 87,000 shares of company stock valued at $2,414,507 in the last three months. 31.50% of the stock is currently owned by corporate insiders.

About Cenovus Energy

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.