Cenovus Energy Inc. (TSE:CVE) Given Average Rating of "Moderate Buy" by Analysts

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

Several analysts have weighed in on CVE shares. JPMorgan Chase & Co. dropped their price objective on shares of Cenovus Energy from C$34.00 to C$32.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group lowered their price objective on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. National Bankshares cut Cenovus Energy from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from C$28.00 to C$25.00 in a research report on Friday, February 21st. TD Securities cut their price objective on shares of Cenovus Energy from C$29.00 to C$28.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, National Bank Financial cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th.

Insider Activity

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

Cenovus Energy Stock Performance

Shares of TSE CVE traded up C$0.52 during mid-day trading on Friday, reaching C$16.75. 1,036,621 shares of the company were exchanged, compared to its average volume of 5,993,450. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$28.82. The stock has a market capitalization of C$30.51 billion, a P/E ratio of 8.26, a P/E/G ratio of 0.09 and a beta of 2.63. The company's 50-day simple moving average is C$18.11 and its 200-day simple moving average is C$20.61. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a $0.18 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 4.30%. Cenovus Energy's dividend payout ratio (DPR) is presently 35.49%.

Cenovus Energy Company Profile

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.