Cenovus Energy Inc. (TSE:CVE) Receives C$28.35 Consensus Target Price from Analysts

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE has earned an average rating of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$28.35.

CVE has been the subject of a number of research analyst reports. CIBC lowered their target price on Cenovus Energy from C$32.00 to C$28.00 in a report on Thursday, April 10th. National Bank Financial downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. TD Securities reduced their price objective on Cenovus Energy from C$29.00 to C$28.00 and set a "buy" rating for the company in a report on Monday, February 24th. Finally, National Bankshares cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from C$28.00 to C$25.00 in a research note on Friday, February 21st.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer John F. Soini bought 5,880 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of C$16.89 per share, for a total transaction of C$99,313.20. Also, Senior Officer Jeffery George Lawson acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of C$21.39 per share, with a total value of C$213,900.00. Over the last quarter, insiders purchased 31,934 shares of company stock worth $619,586. 32.03% of the stock is owned by insiders.

Cenovus Energy Price Performance

Shares of CVE traded down C$0.55 during trading hours on Friday, reaching C$16.21. The stock had a trading volume of 2,356,877 shares, compared to its average volume of 6,030,442. Cenovus Energy has a 12 month low of C$14.48 and a 12 month high of C$28.82. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The stock has a market capitalization of C$29.53 billion, a PE ratio of 7.99, a PEG ratio of 0.09 and a beta of 2.63. The company's 50-day moving average is C$18.20 and its two-hundred day moving average is C$20.66.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 35.49%.

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.