Raymond James Lowers Cenovus Energy (TSE:CVE) Price Target to C$32.00

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

Other equities research analysts have also recently issued reports about the company. TD Securities upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 3rd. National Bankshares lowered their target price on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Scotiabank lowered their target price on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. BMO Capital Markets lowered their target price on Cenovus Energy from C$33.00 to C$31.00 in a report on Friday, October 4th. Finally, Jefferies Financial Group lowered their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$32.45.

Cenovus Energy Price Performance

CVE opened at C$23.43 on Tuesday. The business has a fifty day moving average of C$24.13 and a 200 day moving average of C$26.28. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The stock has a market cap of C$43.58 billion, a P/E ratio of 9.33, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$14.89 billion for the quarter, compared to analysts’ expectations of C$13.44 billion. As a group, sell-side analysts anticipate that Cenovus Energy will post 2.2619279 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently 28.69%.

Insider Buying and Selling

In related news, Senior Officer Geoffrey Murray acquired 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased 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 Jonathan Michael Mckenzie bought 100,000 shares of Cenovus Energy stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of C$22.25 per share, with a total value of C$2,225,000.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of Cenovus Energy stock in a transaction that occurred on 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. Insiders purchased 152,200 shares of company stock worth $3,459,477 in the last three months. 32.03% of the stock is owned by insiders.

Cenovus Energy Company Profile

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.