Cenovus Energy (TSE:CVE) Price Target Raised to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target increased by Raymond James from C$32.00 to C$33.00 in a research report report published on Friday morning,BayStreet.CA reports.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group cut their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a report on Monday, September 16th. BMO Capital Markets dropped their target price on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada reduced their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. TD Securities reduced their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday. Finally, National Bankshares cut their price objective on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$31.50.

Cenovus Energy Stock Up 1.0 %

TSE:CVE opened at C$21.71 on Friday. The firm has a market capitalization of C$40.38 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 12-month low of C$19.82 and a 12-month high of C$29.96. The stock’s fifty day simple moving average is C$22.71 and its 200-day simple moving average is C$24.60. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be paid a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 3.32%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of C$21.74 per share, with a total value of C$100,004.00. Also, Senior Officer Geoffrey Murray purchased 3,200 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. Insiders acquired 12,300 shares of company stock valued at $273,236 in the last quarter. Company insiders own 32.03% of the company’s stock.

About Cenovus Energy

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.