Cenovus Energy Inc. (TSE:CVE – Get Free Report) (NYSE:CVE) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$24.73 and traded as high as C$25.19. Cenovus Energy shares last traded at C$25.04, with a volume of 3,821,003 shares trading hands.
Analyst Upgrades and Downgrades
CVE has been the subject of a number of recent analyst reports. TD Securities lifted their price target on shares of Cenovus Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. CIBC lifted their price target on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. ATB Capital lifted their price target on shares of Cenovus Energy from C$31.00 to C$34.00 in a research report on Friday, October 20th. UBS Group lifted their price objective on shares of Cenovus Energy from C$30.00 to C$31.00 in a report on Wednesday, October 11th. Finally, Desjardins lifted their price objective on shares of Cenovus Energy from C$31.00 to C$33.50 and gave the company a “buy” rating in a report on Monday, September 18th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$33.03.
Cenovus Energy Stock Up 0.5 %
Cenovus Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.24%. Cenovus Energy’s dividend payout ratio is presently 26.29%.
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.
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