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

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) has earned an average recommendation of “Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Fourteen research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$27.97.

CVE has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Cenovus Energy from C$34.00 to C$36.00 in a research report on Friday, July 29th. CSFB set a C$37.00 price objective on shares of Cenovus Energy and gave the stock an “outperform” rating in a research report on Thursday, August 11th. Scotiabank increased their price objective on shares of Cenovus Energy from C$25.00 to C$34.00 in a research report on Wednesday, June 8th. CIBC decreased their price objective on shares of Cenovus Energy from C$34.00 to C$32.00 in a research report on Wednesday, August 31st. Finally, National Bankshares decreased their price objective on shares of Cenovus Energy from C$41.00 to C$38.00 and set an “outperform” rating for the company in a research report on Monday, July 18th.

Cenovus Energy Price Performance

CVE stock opened at C$24.58 on Monday. The company has a fifty day moving average price of C$23.43 and a 200-day moving average price of C$23.87. The company has a market capitalization of C$47.46 billion and a P/E ratio of 11.93. Cenovus Energy has a 52-week low of C$10.48 and a 52-week high of C$31.19. The company has a debt-to-equity ratio of 53.62, a quick ratio of 1.08 and a current ratio of 1.73.

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) last released its quarterly earnings results on Thursday, July 28th. The company reported C$1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.15 by C$0.04. The business had revenue of C$19.17 billion for the quarter, compared to the consensus estimate of C$16.97 billion. As a group, equities analysts expect that Cenovus Energy will post 4.3424834 EPS for the current year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, September 14th. Cenovus Energy’s payout ratio is currently 9.34%.

Insider Activity at Cenovus Energy

In related news, Director Alex Pourbaix sold 200,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of C$24.79, for a total transaction of C$4,957,920.00. Following the transaction, the director now directly owns 1,129,894 shares of the company’s stock, valued at C$28,009,620.30. In related news, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of C$24.79, for a total transaction of C$4,957,920.00. Following the completion of the transaction, the director now owns 1,129,894 shares of the company’s stock, valued at C$28,009,620.30. Also, Senior Officer Jonathan Michael Mckenzie sold 80,396 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of C$23.95, for a total transaction of C$1,925,628.91. Following the completion of the transaction, the insider now directly owns 382,868 shares of the company’s stock, valued at approximately C$9,170,377.76. Insiders have sold 390,396 shares of company stock valued at $9,720,549 over the last ninety days.

About Cenovus Energy

(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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