Cenovus Energy (TSE:CVE) Price Target Raised to C$45.00 at TD

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective increased by TD from C$35.00 to C$45.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. TD currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. ATB Cormark Capital Markets raised their price target on Cenovus Energy from C$29.00 to C$34.00 in a research note on Monday, February 23rd. Royal Bank Of Canada raised their price target on Cenovus Energy from C$32.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. The Goldman Sachs Group raised Cenovus Energy to a “strong-buy” rating in a research note on Friday, January 2nd. Jefferies Financial Group raised their price target on Cenovus Energy from C$30.00 to C$37.00 in a research note on Monday, March 16th. Finally, National Bank Financial raised their price target on Cenovus Energy from C$30.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$39.08.

Cenovus Energy Trading Up 1.5%

Shares of TSE CVE opened at C$35.50 on Thursday. Cenovus Energy has a 12 month low of C$16.02 and a 12 month high of C$38.50. The company has a market cap of C$66.73 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.09 and a beta of 0.07. 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 business has a fifty day simple moving average of C$32.89 and a 200-day simple moving average of C$27.37.

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. The business had revenue of C$10.88 billion during the quarter. Cenovus Energy had a return on equity of 13.16% and a net margin of 7.91%. Sell-side analysts predict that Cenovus Energy will post 2.2619279 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 2.3%. Cenovus Energy’s payout ratio is currently 36.28%.

Insider Buying and Selling

In related news, insider John F. Soini sold 10,275 shares of the business’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of C$35.13, for a total value of C$360,960.75. Following the sale, the insider owned 2,114 shares of the company’s stock, valued at C$74,264.82. The trade was a 82.94% decrease in their position. 32.03% of the stock is currently owned by corporate insiders.

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.