Cenovus Energy Inc. (TSE:CVE) Given Consensus Rating of “Buy” by Brokerages

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have earned an average rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$31.90.

Several research analysts recently commented on CVE shares. Jefferies Financial Group reduced their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday, September 16th. National Bankshares reduced their price objective on shares of Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. BMO Capital Markets dropped their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Raymond James decreased their price objective on Cenovus Energy from C$33.00 to C$32.00 in a report on Tuesday, October 15th.

Cenovus Energy Price Performance

Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm has a market capitalization of C$41.98 billion, a P/E ratio of 8.90, a PEG ratio of 0.09 and a beta of 2.63. The business’s fifty day moving average price is C$23.40 and its 200-day moving average price is C$25.79.

Cenovus Energy Dividend Announcement

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

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson purchased 4,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of C$22.50 per share, with a total value of C$90,000.00. In other news, Senior Officer Keith Chiasson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of C$23.40 per share, for a total transaction of C$585,000.00. Also, Senior Officer Jeffery George Lawson bought 4,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of C$22.50 per share, with a total value of C$90,000.00. Insiders acquired 152,700 shares of company stock valued at $3,470,597 over the last ninety days. 32.03% of the stock is owned by insiders.

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.