Cenovus Energy Inc. (TSE:CVE) Receives Average Rating of “Buy” from Analysts

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) has earned a consensus rating of “Buy” from the twenty brokerages that are presently covering the company, MarketBeat Ratings reports. Twelve analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$24.33.

Several research firms recently issued reports on CVE. Raymond James set a C$27.00 price target on Cenovus Energy and gave the company an “outperform” rating in a research note on Thursday, April 28th. Citigroup boosted their price target on Cenovus Energy from C$17.00 to C$21.00 and gave the company a “buy” rating in a research note on Thursday, January 27th. Scotiabank boosted their price target on Cenovus Energy from C$20.00 to C$24.00 in a research note on Tuesday, March 8th. Royal Bank of Canada upped their target price on Cenovus Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Thursday, April 28th. Finally, CIBC upped their target price on Cenovus Energy from C$28.00 to C$30.00 in a report on Thursday, April 14th.

Shares of TSE CVE opened at C$26.51 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 59.74. Cenovus Energy has a 12 month low of C$9.23 and a 12 month high of C$26.82. The stock has a 50 day moving average of C$22.04 and a 200-day moving average of C$18.94. The company has a market capitalization of C$52.53 billion and a P/E ratio of 27.67.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is currently 10.96%.

In related news, Senior Officer Karamjit Singh Sandhar sold 59,000 shares of Cenovus Energy stock in a transaction on Friday, May 6th. The stock was sold at an average price of C$26.28, for a total transaction of C$1,550,520.00. Following the sale, the insider now directly owns 37,591 shares in the company, valued at C$987,891.48.

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.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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