Shares of Cenovus Energy Inc. (TSE:CVE – Get Free Report) (NYSE:CVE) have received an average recommendation of “Buy” from the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$46.75.
A number of equities analysts have commented on the stock. Desjardins lifted their price objective on shares of Cenovus Energy from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. TD increased their price objective on shares of Cenovus Energy from C$49.00 to C$50.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. UBS Group lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Canadian Imperial Bank of Commerce lifted their target price on shares of Cenovus Energy from C$48.00 to C$52.00 in a report on Thursday, August 27th. Finally, National Bank Financial upped their price target on shares of Cenovus Energy from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research note on Tuesday, October 20th.
Get Our Latest Analysis on Cenovus Energy
Cenovus Energy Stock Performance
CVE opened at C$45.78 on Wednesday. Cenovus Energy has a 12-month low of C$21.62 and a 12-month high of C$47.46. The stock has a market cap of C$84.43 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.09 and a beta of 0.28. The business has a 50 day moving average of C$45.19 and a 200-day moving average of C$38.07. 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 (TSE:CVE – Get Free Report) (NYSE:CVE) last posted its earnings results on Wednesday, July 29th. The company reported C$1.53 earnings per share for the quarter. Cenovus Energy had a return on equity of 21.02% and a net margin of 12.37%. The business had revenue of C$17.43 billion for the quarter. On average, equities research analysts expect that Cenovus Energy will post 2.26 earnings per share for the current year.
Cenovus Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.88 annualized dividend and a yield of 1.9%. Cenovus Energy’s dividend payout ratio (DPR) is 22.78%.
Insider Transactions at Cenovus Energy
In other news, Director Alex Pourbaix sold 30,186 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$42.17, for a total transaction of C$1,272,943.62. Following the transaction, the director owned 1,455,996 shares in the company, valued at approximately C$61,399,351.32. This trade represents a 2.03% decrease in their ownership of the stock. Also, insider John F. Soini sold 26,223 shares of Cenovus Energy stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of C$44.92, for a total value of C$1,177,937.16. Following the sale, the insider directly owned 2,114 shares of the company’s stock, valued at approximately C$94,960.88. The trade was a 92.54% decrease in their ownership of the stock. Insiders sold a total of 601,524 shares of company stock worth $25,546,211 over the last quarter. 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.
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