National Bankshares Boosts Cenovus Energy (TSE:CVE) Price Target to C$38.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective upped by National Bankshares from C$29.00 to C$38.00 in a research note published on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

CVE has been the subject of a number of other reports. BMO Capital Markets boosted their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Scotiabank cut their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. Desjardins upped 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 report on Friday, March 22nd. CIBC upped their target price on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of C$32.88.

Cenovus Energy Stock Up 0.8 %

Cenovus Energy stock opened at C$28.69 on Friday. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The firm has a market capitalization of C$53.65 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.09 and a beta of 2.78. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. The firm has a 50 day simple moving average of C$25.75 and a 200 day simple moving average of C$24.39.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same period in the previous year, the business earned $0.39 EPS. On average, analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio is presently 26.42%.

Insider Activity

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. Also, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. Over the last ninety days, insiders sold 87,000 shares of company stock valued at $2,414,507. Insiders own 31.50% of the company’s stock.

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.