Cenovus Energy (TSE:CVE) Price Target Increased to C$33.50 by Analysts at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target hoisted by Desjardins from C$31.00 to C$33.50 in a research note issued to investors on Monday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

CVE has been the subject of several other reports. Royal Bank of Canada reduced their target price on Cenovus Energy from C$28.00 to C$27.00 in a research report on Wednesday, July 12th. UBS Group set a C$26.00 target price on Cenovus Energy and gave the stock a neutral rating in a research report on Wednesday, July 12th. National Bankshares reduced their target price on Cenovus Energy from C$33.00 to C$31.00 in a research report on Friday, July 28th. Scotiabank upgraded Cenovus Energy from a sector perform rating to an outperform rating and boosted their target price for the stock from C$28.00 to C$30.00 in a research report on Wednesday, September 6th. Finally, National Bank Financial dropped their price target on Cenovus Energy from C$38.00 to C$33.00 in a research note on Thursday, June 29th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cenovus Energy has a consensus rating of Buy and an average target price of C$30.78.

Cenovus Energy Stock Down 0.7 %

CVE stock opened at C$27.87 on Monday. The stock’s 50 day moving average is C$25.61 and its 200-day moving average is C$23.81. The firm has a market capitalization of C$52.95 billion, a PE ratio of 14.08, a P/E/G ratio of 0.09 and a beta of 2.85. Cenovus Energy has a twelve month low of C$19.90 and a twelve month high of C$29.99. The company has a quick ratio of 1.00, a current ratio of 1.50 and a debt-to-equity ratio of 41.43.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Thursday, July 27th. The company reported C$0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.42 by C$0.02. The firm had revenue of C$12.23 billion for the quarter, compared to analyst estimates of C$12.91 billion. Cenovus Energy had a return on equity of 14.54% and a net margin of 6.95%. Sell-side analysts expect that Cenovus Energy will post 2.939267 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.01%. Cenovus Energy’s payout ratio is 28.28%.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil and natural gas in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, and U.S. Manufacturing segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan.