Cenovus Energy (TSE:CVE) Price Target Raised to C$22.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target raised by ATB Capital from C$19.50 to C$22.00 in a research note published on Tuesday morning, BayStreet.CA reports.

A number of other equities analysts have also issued reports on CVE. Scotiabank raised their price target on Cenovus Energy from C$16.50 to C$19.00 in a report on Friday, November 19th. UBS Group raised their price target on Cenovus Energy from C$19.00 to C$25.00 and gave the stock a buy rating in a report on Wednesday, November 17th. Royal Bank of Canada reissued an outperform rating and set a C$16.00 price target on shares of Cenovus Energy in a report on Friday, September 17th. BMO Capital Markets reissued an outperform rating on shares of Cenovus Energy in a report on Wednesday, September 29th. Finally, Credit Suisse Group raised their price target on Cenovus Energy to C$20.00 and gave the stock an outperform rating in a report on Monday, November 8th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy has an average rating of Buy and an average price target of C$18.21.

Shares of CVE stock opened at C$16.52 on Tuesday. The stock’s 50-day moving average is C$14.12 and its two-hundred day moving average is C$11.86. The firm has a market cap of C$33.33 billion and a price-to-earnings ratio of 37.98. Cenovus Energy has a 1 year low of C$6.40 and a 1 year high of C$16.77. The company has a debt-to-equity ratio of 66.06, a quick ratio of 0.87 and a current ratio of 1.34.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Wednesday, November 3rd. The company reported C$0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.44 by C($0.17). The business had revenue of C$13.43 billion during the quarter. As a group, research analysts predict that Cenovus Energy will post 2.13 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, December 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 12.07%.

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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