Cenovus Energy Inc. (TSE:CVE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$32.19.

Several equities analysts have weighed in on CVE shares. Scotiabank dropped their target price on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. CIBC lifted their price objective on Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Desjardins lifted their price objective on Cenovus Energy from C$28.00 to C$29.50 and gave the company a “buy” rating in a research note on Friday, March 22nd. Royal Bank of Canada lifted their price objective on Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th.

Cenovus Energy Stock Performance

TSE CVE opened at C$28.34 on Tuesday. The company has a market cap of C$53.00 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.09 and a beta of 2.78. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. The stock has a 50-day moving average of C$25.20 and a two-hundred day moving average of C$24.36. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating the consensus estimate of C$0.33 by C$0.06. The company had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same period in the previous year, the company posted $0.39 EPS. As a group, analysts anticipate that Cenovus Energy will post 2.6887232 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s payout ratio is 26.42%.

Insider Buying and Selling

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. Insiders sold a total of 87,000 shares of company stock worth $2,414,507 over the last 90 days. 31.50% of the stock is owned by insiders.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.