Cenovus Energy Inc. (TSE:CVE – Get Free Report) (NYSE:CVE) has been assigned an average recommendation of “Buy” from the fifteen brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$39.64.
Several research firms have recently weighed in on CVE. Gerdes Energy Research lowered shares of Cenovus Energy from a “buy” rating to a “neutral” rating in a research note on Friday, March 20th. National Bank Financial boosted their price target on shares of Cenovus Energy from C$30.00 to C$57.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada boosted their price target on shares of Cenovus Energy from C$42.00 to C$45.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. ATB Cormark Capital Markets boosted their price target on shares of Cenovus Energy from C$29.00 to C$34.00 in a research note on Monday, February 23rd. Finally, Desjardins boosted their price target on shares of Cenovus Energy from C$33.00 to C$36.00 and gave the company a “buy” rating in a research note on Friday, February 20th.
Read Our Latest Research Report on Cenovus Energy
Cenovus Energy Stock Performance
Cenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.84 earnings per share for the quarter. The company had revenue of C$12.36 billion during the quarter. Cenovus Energy had a net margin of 9.52% and a return on equity of 15.23%. As a group, sell-side analysts anticipate that Cenovus Energy will post 2.2619279 EPS for the current year.
Cenovus Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, March 13th. Cenovus Energy’s payout ratio is 31.87%.
Insider Buying and Selling at Cenovus Energy
In other Cenovus Energy news, insider John F. Soini sold 10,275 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$35.13, for a total transaction of C$360,960.75. Following the completion of the sale, the insider owned 2,114 shares in the company, valued at approximately C$74,264.82. The trade was a 82.94% decrease in their position. Also, insider Jonathan Michael Mckenzie sold 60,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of C$38.72, for a total transaction of C$2,323,200.00. Following the sale, the insider owned 1,212,836 shares of the company’s stock, valued at C$46,961,009.92. This trade represents a 4.71% decrease in their position. In the last 90 days, insiders sold 126,260 shares of company stock worth $4,915,163. 32.03% of the stock is owned by corporate insiders.
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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