Cenovus Energy (TSE:CVE) Price Target Cut to C$25.00 by Analysts at BMO Capital Markets

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lowered by BMO Capital Markets from C$28.00 to C$25.00 in a report released on Friday morning,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. TD Securities cut their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group dropped their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Raymond James lifted their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday. National Bankshares reduced their target price on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Finally, 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 on the stock in a report on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$31.50.

Cenovus Energy Stock Performance

TSE CVE opened at C$21.71 on Friday. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The business’s 50-day moving average price is C$22.71 and its 200 day moving average price 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. The firm has a market cap 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 Dividend Announcement

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

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the stock in a transaction on Friday, December 13th. The stock was 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 acquired 3,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was purchased at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Over the last quarter, insiders have acquired 12,300 shares of company stock worth $273,236. 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.