National Bankshares Cuts Cenovus Energy (TSE:CVE) Price Target to C$28.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price reduced by National Bankshares from C$29.00 to C$28.00 in a research note issued to investors on Thursday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on CVE. TD Securities cut their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Royal Bank of Canada cut their target price on Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. BMO Capital Markets lowered their price target on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Jefferies Financial Group cut their price objective on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday. Finally, Raymond James upped their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$30.33.

Cenovus Energy Stock Performance

Shares of CVE opened at C$21.02 on Thursday. The stock has a 50-day simple moving average of C$21.61 and a 200-day simple moving average of C$23.32. 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 has a 1 year low of C$20.42 and a 1 year high of C$29.96. The stock has a market capitalization of C$39.10 billion, a PE ratio of 8.37, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, October 31st. The company reported C$0.42 EPS for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. During the same quarter last year, the firm posted $0.97 EPS. On average, analysts predict that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.43%. Cenovus Energy’s payout ratio is 28.69%.

Insider Transactions at Cenovus Energy

In other 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 bought at an average price of C$21.74 per share, for a total transaction of C$100,004.00. Also, insider Cenovus Energy Inc. bought 44,700 shares of the stock in a transaction dated Monday, December 2nd. The stock was purchased at an average cost of C$22.07 per share, for a total transaction of C$986,658.63. Over the last quarter, insiders acquired 55,300 shares of company stock worth $1,214,190. Company insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.