Cenovus Energy Inc. (TSE:CVE) Given Average Recommendation of “Buy” by Analysts

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) has received an average recommendation of “Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$22.73.

A number of brokerages have recently commented on CVE. CIBC lifted their price objective on shares of Cenovus Energy from C$28.00 to C$30.00 in a research report on Thursday, April 14th. Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from C$24.00 to C$23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 9th. CSFB lifted their price objective on shares of Cenovus Energy from C$22.00 to C$26.00 and gave the company an “outperform” rating in a research report on Monday, February 14th. JPMorgan Chase & Co. lifted their price objective on shares of Cenovus Energy from C$29.00 to C$30.00 in a research report on Tuesday, April 12th. Finally, Tudor Pickering reissued a “buy” rating and issued a C$22.00 price objective on shares of Cenovus Energy in a research report on Tuesday, February 8th.

Shares of CVE stock opened at C$21.91 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.81 and a debt-to-equity ratio of 65.32. Cenovus Energy has a 1 year low of C$8.89 and a 1 year high of C$23.13. The firm’s fifty day moving average price is C$20.53 and its two-hundred day moving average price is C$17.65. The firm has a market capitalization of C$43.72 billion and a P/E ratio of 81.15.

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) last issued its quarterly earnings results on Tuesday, February 8th. The company reported C$0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.51 by C$0.03. The business had revenue of C$13.73 billion during the quarter, compared to analyst estimates of C$11.89 billion. As a group, equities research analysts forecast that Cenovus Energy will post 3.0100001 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.64%. Cenovus Energy’s dividend payout ratio (DPR) is presently 32.41%.

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie bought 25,000 shares of Cenovus Energy stock in a transaction on Thursday, February 10th. The shares were purchased at an average price of C$19.80 per share, with a total value of C$495,005.00. Following the acquisition, the insider now owns 282,868 shares in the company, valued at approximately C$5,600,842.97.

Cenovus Energy Company Profile (Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

Further Reading

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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