Desjardins Boosts Cenovus Energy (TSE:CVE) Price Target to C$31.50

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price lifted by Desjardins from C$29.50 to C$31.50 in a research note published on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. CIBC raised their price objective on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an outperform rating in a research note on Monday. Royal Bank of Canada upped their target price on Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. BMO Capital Markets upped their target price on Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Finally, Scotiabank lowered their target price on Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating for the company in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of C$33.35.

Cenovus Energy Trading Down 0.0 %

Shares of Cenovus Energy stock opened at C$29.09 on Tuesday. The firm has a market cap of C$54.40 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.09 and a beta of 2.78. The business has a 50-day moving average price of C$26.28 and a 200-day moving average price of C$24.49. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The company had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same quarter last year, the business posted $0.39 earnings per share. Equities research analysts anticipate that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s payout ratio is presently 26.42%.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of Cenovus Energy stock in a transaction dated Friday, February 16th. The shares were acquired at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Over the last three months, insiders have sold 87,000 shares of company stock valued at $2,414,507. Corporate insiders own 31.50% of the company’s stock.

Cenovus Energy Company Profile

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.