Analysts Set Cenovus Energy Inc. (TSE:CVE) Price Target at C$28.18

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have earned a consensus rating of “Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$28.18.

A number of research firms recently weighed in on CVE. National Bank Financial raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, August 22nd. Desjardins increased their price objective on shares of Cenovus Energy from C$27.50 to C$29.00 in a report on Monday, August 25th. ATB Capital increased their price objective on shares of Cenovus Energy from C$25.00 to C$28.00 and gave the stock an “outperform” rating in a report on Monday, August 25th. Scotiabank increased their price objective on shares of Cenovus Energy from C$27.00 to C$29.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Finally, Jefferies Financial Group increased their price objective on shares of Cenovus Energy from C$25.00 to C$29.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd.

Cenovus Energy Stock Up 1.2%

CVE stock opened at C$23.82 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. Cenovus Energy has a fifty-two week low of C$14.48 and a fifty-two week high of C$25.97. The firm’s 50-day simple moving average is C$23.18 and its 200 day simple moving average is C$20.17. The stock has a market cap of C$42.36 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.09 and a beta of 0.66.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.80 annualized dividend and a yield of 3.4%. Cenovus Energy’s dividend payout ratio (DPR) is presently 51.39%.

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.