Cenovus Energy (TSE:CVE) Price Target Lowered to C$31.00 at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by National Bankshares from C$38.00 to C$31.00 in a report issued on Friday morning, BayStreet.CA reports.

Several other research firms also recently weighed in on CVE. Jefferies Financial Group dropped their price target 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. Royal Bank of Canada dropped their price objective on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Scotiabank reduced their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Finally, Desjardins lifted their price target on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of C$33.00.

Cenovus Energy Price Performance

Cenovus Energy stock opened at C$22.49 on Friday. 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 one year low of C$19.82 and a one year high of C$29.96. The company has a market cap of C$41.83 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. The business has a fifty day moving average of C$24.94 and a two-hundred day moving average of C$26.48.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). The firm had revenue of C$14.89 billion during the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. As a group, analysts predict that Cenovus Energy will post 2.2599805 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.20%. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Buying and Selling

In other news, Senior Officer Jeffery George Lawson purchased 9,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price of C$21.92 per share, with a total value of C$197,280.00. In other news, Senior Officer Jeffery George Lawson acquired 9,000 shares of Cenovus Energy stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of C$21.92 per share, with a total value of C$197,280.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average price of C$22.54 per share, with a total value of C$72,112.00. In the last ninety days, insiders have bought 148,200 shares of company stock valued at $3,369,477. 31.71% of the stock is currently owned by company 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.