National Bankshares Cuts Cenovus Energy (TSE:CVE) Price Target to C$28.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target reduced by National Bankshares from C$29.00 to C$28.00 in a research report sent to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

CVE has been the subject of several other research reports. BMO Capital Markets cut their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Jefferies Financial Group cut their price objective on shares of Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday. Raymond James raised their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Royal Bank of Canada cut their price target on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Finally, TD Securities decreased their price objective on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$30.33.

Cenovus Energy Trading Down 2.6 %

Shares of CVE opened at C$21.02 on Thursday. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. Cenovus Energy has a 1-year low of C$20.42 and a 1-year high of C$29.96. The stock has a market cap of C$39.10 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The firm has a 50 day simple moving average of C$21.61 and a 200-day simple moving average of C$23.32.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, October 31st. The company reported C$0.42 earnings per share for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. During the same period in the previous year, the company posted $0.97 EPS. Equities analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently 28.69%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, insider Cenovus Energy Inc. purchased 44,700 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average cost of C$22.07 per share, with a total value of C$986,658.63. Also, Senior Officer Jeffery George Lawson acquired 5,000 shares of the business’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of C$21.17 per share, for a total transaction of C$105,832.00. Over the last 90 days, insiders have bought 55,300 shares of company stock worth $1,214,190. 32.03% of the stock is owned by insiders.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.