Cenovus Energy Inc. (TSE:CVE) Given Average Recommendation of “Buy” by Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$31.20.

Several equities research analysts have issued reports on CVE shares. BMO Capital Markets dropped their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Raymond James increased their target price on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. National Bankshares dropped their price target on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Jefferies Financial Group reduced their price objective on Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada dropped their target price on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of C$21.74 per share, with a total value of C$100,004.00. Insiders have bought a total of 9,600 shares of company stock valued at $211,699 over the last ninety days. Company insiders own 32.03% of the company’s stock.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at C$21.11 on Friday. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm has a market capitalization of C$39.26 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The firm’s 50 day simple moving average is C$22.17 and its 200 day simple moving average is C$24.24.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.41%. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Cenovus Energy Company Profile

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.