Cenovus Energy (TSE:CVE) Price Target Raised to C$15.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target increased by Credit Suisse Group to C$15.00 in a report released on Monday, Stock Target Advisor reports. They currently have a na rating on the stock.

A number of other analysts have also issued reports on the company. Tudor Pickering reaffirmed a buy rating and set a C$12.00 target price on shares of Cenovus Energy in a research report on Friday, May 28th. CIBC lifted their target price on Cenovus Energy from C$16.00 to C$20.00 and gave the stock a na rating in a research report on Wednesday, July 14th. Tudor Pickering & Holt set a C$12.00 target price on Cenovus Energy and gave the stock a buy rating in a research report on Friday, May 28th. Barclays lifted their target price on Cenovus Energy from C$11.00 to C$12.00 and gave the stock a na rating in a research report on Friday, July 16th. Finally, UBS Group boosted their price objective on Cenovus Energy from C$16.50 to C$19.00 and gave the company a na rating in a report on Wednesday, June 30th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Cenovus Energy has a consensus rating of Buy and an average price target of C$14.41.

Shares of CVE opened at C$10.17 on Monday. The stock’s 50-day moving average is C$11.03. The firm has a market capitalization of C$20.52 billion and a PE ratio of -37.53. Cenovus Energy has a 12 month low of C$4.15 and a 12 month high of C$12.86. The company has a debt-to-equity ratio of 73.58, a quick ratio of 0.83 and a current ratio of 1.36.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Friday, May 7th. The company reported C$0.10 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.15 by C($0.05). The business had revenue of C$9.52 billion during the quarter. As a group, analysts predict that Cenovus Energy will post 1.22 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th were given a $0.018 dividend. The ex-dividend date was Monday, June 14th. This represents a $0.07 dividend on an annualized basis and a yield of 0.71%. Cenovus Energy’s dividend payout ratio (DPR) is -6.46%.

In related news, Director Claude Mongeau purchased 78,000 shares of the company’s stock in a transaction on Monday, May 31st. The shares were bought at an average price of C$10.19 per share, with a total value of C$794,726.40. Following the completion of the acquisition, the director now owns 339,495 shares of the company’s stock, valued at C$3,459,046.66. Also, Senior Officer Norrie Carson Ramsay purchased 4,990 shares of the company’s stock in a transaction on Friday, June 25th. The stock was bought at an average cost of C$12.01 per share, for a total transaction of C$59,929.90. Following the acquisition, the insider now directly owns 35,614 shares of the company’s stock, valued at approximately C$427,724.14.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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