CIBC Increases Cenovus Energy (TSE:CVE) Price Target to C$35.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective hoisted by CIBC from C$31.00 to C$35.00 in a research report report published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

CVE has been the topic of a number of other research reports. Jefferies Financial Group boosted their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the company a buy rating in a report on Friday, April 12th. BMO Capital Markets boosted their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. National Bankshares boosted their price target on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an outperform rating in a report on Friday. Royal Bank of Canada boosted their price target on shares of Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. Finally, Scotiabank cut their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating on the stock in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy currently has an average rating of Moderate Buy and a consensus target price of C$33.19.

Cenovus Energy Stock Up 0.9 %

TSE CVE opened at C$28.94 on Monday. 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 company’s 50 day simple moving average is C$25.89 and its 200 day simple moving average is C$24.41. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a market capitalization of C$54.12 billion, a P/E ratio of 13.65, a PEG ratio of 0.09 and a beta of 2.78.

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

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.56 annualized dividend and a dividend yield of 1.94%. Cenovus Energy’s dividend payout ratio (DPR) is 26.42%.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were bought at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. Also, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. Insiders have sold a total of 87,000 shares of company stock worth $2,414,507 in the last 90 days. 31.50% of the stock is owned by insiders.

Cenovus Energy Company Profile

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.