Cenovus Energy (TSE:CVE) Price Target Raised to C$57.00 at National Bank Financial

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective boosted by National Bank Financial from C$30.00 to C$57.00 in a report published on Tuesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also commented on CVE. Desjardins increased their price objective on shares of Cenovus Energy from C$33.00 to C$36.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Scotiabank upped their target price on shares of Cenovus Energy from C$30.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Raymond James Financial increased their price target on shares of Cenovus Energy from C$33.00 to C$42.00 in a research note on Monday. Finally, Morgan Stanley dropped their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$35.33.

Cenovus Energy Trading Down 0.3%

Shares of CVE opened at C$36.92 on Tuesday. The company has a debt-to-equity ratio of 53.80, a quick ratio of 1.00 and a current ratio of 1.57. The company has a market cap of C$69.38 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.09 and a beta of 0.63. The stock has a fifty day moving average price of C$30.58 and a two-hundred day moving average price of C$26.40. Cenovus Energy has a 52-week low of C$14.48 and a 52-week high of C$38.50.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Thursday, February 19th. The company reported C$0.50 EPS for the quarter. Cenovus Energy had a return on equity of 13.16% and a net margin of 7.91%.The company had revenue of C$10.88 billion for the quarter. Analysts predict that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy’s payout ratio is currently 36.28%.

Insider Transactions at Cenovus Energy

In other news, insider John F. Soini sold 10,275 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of C$35.13, for a total value of C$360,960.75. Following the transaction, the insider owned 2,114 shares of the company’s stock, valued at approximately C$74,264.82. This trade represents a 82.94% decrease in their position. Insiders own 32.03% of the company’s stock.

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.