Cenovus Energy Inc. (TSE:CVE) Given Consensus Rating of “Buy” by Analysts

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$32.67.

A number of equities research analysts have weighed in on the stock. ATB Cormark Capital Markets boosted their target price on shares of Cenovus Energy from C$29.00 to C$34.00 in a research note on Monday, February 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 note on Friday, February 20th. Royal Bank Of Canada upped their price objective on Cenovus Energy from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. downgraded Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 target price on the stock. in a report on Tuesday, January 20th. Finally, BMO Capital Markets dropped their target price on Cenovus Energy from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$31.98 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 53.80. The company has a 50 day moving average price of C$28.12 and a 200-day moving average price of C$25.45. Cenovus Energy has a 52 week low of C$14.48 and a 52 week high of C$32.74. The firm has a market capitalization of C$60.10 billion, a PE ratio of 14.87, a P/E/G ratio of 0.09 and a beta of 0.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Thursday, February 19th. The company reported C$0.50 earnings per share for the quarter. The company had revenue of C$10.88 billion for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. As a group, equities research analysts expect that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, March 13th. Cenovus Energy’s dividend payout ratio is 36.28%.

Cenovus Energy Company Profile

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.