Shares of Cenovus Energy Inc. (TSE:CVE – Get Free Report) (NYSE:CVE) have earned a consensus rating of “Buy” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$43.73.
Several research firms have commented on CVE. Gerdes Energy Research raised Cenovus Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$42.00 to C$46.00 in a research report on Monday, June 29th. Raymond James Financial upped their target price on Cenovus Energy from C$41.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Scotiabank increased their target price on Cenovus Energy from C$49.00 to C$51.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 30th. Desjardins set a C$50.00 target price on Cenovus Energy and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Royal Bank Of Canada boosted their price target on Cenovus Energy from C$47.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th.
Check Out Our Latest Report on Cenovus Energy
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Cenovus Energy Price Performance
CVE opened at C$45.22 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.63 and a debt-to-equity ratio of 34.01. Cenovus Energy has a 52-week low of C$20.47 and a 52-week high of C$45.28. The company has a 50 day moving average of C$38.82 and a two-hundred day moving average of C$36.35. The company has a market cap of C$83.40 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.09 and a beta of 0.16.
Cenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) last issued its earnings results on Wednesday, July 29th. The company reported C$1.53 EPS for the quarter. The business had revenue of C$17.43 billion for the quarter. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.02%. On average, analysts expect that Cenovus Energy will post 2.2619279 earnings per share for the current year.
Cenovus Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.22 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, June 15th. Cenovus Energy’s payout ratio is 22.78%.
About Cenovus Energy
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.
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