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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$33.19.

Several equities analysts have commented on CVE shares. Scotiabank dropped their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. National Bankshares lifted their target price on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets lifted their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. Royal Bank of Canada lifted their price target on shares of Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. Finally, Desjardins lifted their price target on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the stock a “buy” rating in a report on Friday, March 22nd.

Insider Activity at Cenovus Energy

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. Also, Senior Officer Gary Frederick Molnar sold 24,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of C$29.06, for a total transaction of C$697,332.00. In the last ninety days, insiders sold 87,000 shares of company stock worth $2,414,507. Corporate insiders own 31.50% of the company’s stock.

Cenovus Energy Price Performance

CVE stock opened at C$28.94 on Tuesday. The company has a market capitalization of C$54.12 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The business has a 50-day simple moving average of C$25.89 and a two-hundred day simple moving average of C$24.41.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The firm had revenue of C$13.13 billion for the quarter, compared to analysts’ expectations of C$13.06 billion. During the same quarter last year, the firm earned $0.39 EPS. Research analysts expect that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were paid a $0.14 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.94%. Cenovus Energy’s dividend payout ratio is 26.42%.

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.