Cenovus Energy (TSE:CVE) PT Raised to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective raised by TD Securities from C$30.00 to C$32.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other analysts have also issued reports on CVE. Royal Bank of Canada lifted their target price on Cenovus Energy from C$28.00 to C$32.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. National Bankshares increased their target price on Cenovus Energy from C$29.00 to C$38.00 and gave the company an outperform rating in a research note on Friday, April 19th. Jefferies Financial Group lifted their price target 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, April 12th. Finally, Scotiabank cut their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating on the stock in a report on Tuesday, January 16th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of C$33.19.

Cenovus Energy Stock Down 0.5 %

Shares of TSE:CVE opened at C$28.03 on Thursday. The company has a market capitalization of C$52.42 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The company has a 50 day moving average of C$26.88 and a two-hundred day moving average of C$24.49. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.70 and a debt-to-equity ratio of 33.03.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 8.72% and a return on equity of 16.11%. The business had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, analysts forecast that Cenovus Energy will post 2.7862823 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, May 16th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a dividend yield of 2.57%. Cenovus Energy’s dividend payout ratio is 30.58%.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were bought at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. In the last ninety days, insiders have sold 87,000 shares of company stock worth $2,414,507. 31.50% of the stock is currently owned by company insiders.

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.