Cenovus Energy (TSE:CVE) Price Target Cut to C$29.00 by Analysts at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price lowered by National Bankshares from C$31.00 to C$29.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group reduced their target price on shares of 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. Raymond James increased their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. BMO Capital Markets lowered their target price on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Royal Bank of Canada dropped their target price on 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. Finally, TD Securities decreased 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 note on Friday, December 13th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and an average target price of C$31.20.

Cenovus Energy Stock Up 0.2 %

TSE:CVE opened at C$20.71 on Thursday. The stock has a 50-day simple moving average of C$22.37 and a 200 day simple moving average of C$24.34. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The company has a market cap of C$38.52 billion, a PE ratio of 8.25, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.48%. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. In the last quarter, insiders have acquired 9,600 shares of company stock worth $211,699. Company insiders own 32.03% of the company’s stock.

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.