Investment Analysts’ Weekly Ratings Changes for Cenovus Energy (CVE)

Cenovus Energy (TSE: CVE) recently received a number of ratings updates from brokerages and research firms:

• 10/1/2024 – Cenovus Energy had its price target lowered by analysts at TD Securities from C$33.00 to C$31.00. They now have a “hold” rating on the stock.
• 9/27/2024 – Cenovus Energy had its price target lowered by analysts at National Bankshares, Inc. from C$38.00 to C$31.00.
• 9/17/2024 – Cenovus Energy had its price target lowered by analysts at Royal Bank of Canada from C$33.00 to C$29.00.
• 9/16/2024 – Cenovus Energy had its price target lowered by analysts at Jefferies Financial Group Inc. from C$36.00 to C$33.00. They now have a “buy” rating on the stock.

Cenovus Energy Price Performance

Shares of TSE:CVE opened at C$24.17 on Friday. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. The firm has a market cap of C$44.96 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. The business has a 50-day simple moving average of C$24.53 and a two-hundred day simple moving average of C$26.43. Cenovus Energy Inc. has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.19). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. The firm had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. On average, analysts expect that Cenovus Energy Inc. will post 2.0660125 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Activity

In related news, Senior Officer Geoffrey Murray acquired 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was bought at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. In other Cenovus Energy news, Senior Officer Geoffrey Murray acquired 3,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. Also, Senior Officer Keith Chiasson acquired 25,000 shares of Cenovus Energy stock in a transaction dated Friday, September 6th. The shares were bought at an average price of C$23.40 per share, for a total transaction of C$585,000.00. Insiders acquired a total of 152,200 shares of company stock valued at $3,459,477 in the last 90 days. Company insiders own 32.03% of the company’s stock.

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.