Cenovus Energy Inc. (TSE:CVE) Receives C$29.41 Average PT from Analysts

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$31.50.

A number of research firms recently weighed in on CVE. Desjardins boosted their price target on shares of Cenovus Energy from C$33.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James Financial raised their price objective on shares of Cenovus Energy from C$30.00 to C$33.00 and gave the company a “strong-buy” rating in a research note on Friday. Morgan Stanley dropped their target price on shares of Cenovus Energy from C$31.00 to C$29.00 in a research report on Friday, January 23rd. TD Securities raised their price target on Cenovus Energy from C$28.00 to C$35.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank Of Canada lifted their price objective on Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Friday.

Insider Activity at Cenovus Energy

In other news, Director Michael John Crothers purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average cost of C$24.23 per share, for a total transaction of C$48,460.00. Following the transaction, the director directly owned 8,000 shares of the company’s stock, valued at approximately C$193,840. The trade was a 33.33% increase in their position. 32.03% of the stock is currently owned by company insiders.

More Cenovus Energy News

Here are the key news stories impacting Cenovus Energy this week:

• Positive Sentiment: Q4 results showed record production and an earnings beat, reinforcing the company’s operational story after the MEG acquisition — a clear fundamental positive for future cash flow and shareholder returns. Cenovus reports production records, focuses on boosting operations after acquiring MEG
• Positive Sentiment: Multiple brokerages raised price targets and ratings today (TD to C$35, Desjardins to C$36, Scotiabank to C$34, Raymond James to C$33, RBC to C$32), signaling analyst confidence and implying mid‑single- to mid‑teens upside from current levels. BayStreet.CA analyst roundup
• Neutral Sentiment: Elevated trading volume and the stock sitting near its 1‑year high indicate active profit-taking and rotation; technicals (50/200-day averages both well below current price) support the view that recent strength may be consolidating rather than reversing.
• Negative Sentiment: BMO trimmed its price target (from C$38 to C$35) — still an outperform rating, but the cut is a relative negative among the otherwise upbeat analyst moves and could contribute to intraday selling pressure. BayStreet.CA analyst roundup

Cenovus Energy Price Performance

Cenovus Energy stock opened at C$30.88 on Friday. The business’s 50-day simple moving average is C$25.59 and its 200 day simple moving average is C$24.36. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. The stock has a market cap of C$58.25 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.09 and a beta of 0.65. Cenovus Energy has a 12-month low of C$14.48 and a 12-month high of C$32.04.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.6%. Cenovus Energy’s dividend payout ratio (DPR) is 43.93%.

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.