Cenovus Energy Inc. (TSE:CVE) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Analysts have assigned Cenovus a consensus "Buy" rating from 15 covering firms (10 buys, 3 strong buys, 2 holds) with an average 1‑year target of C$39.
• Several brokers recently raised targets—National Bank to C$57 and TD to C$45 (Raymond James to C$42)—while BMO trimmed its target to C$35, indicating generally upward revisions but some divergence.
• Shares trade around C$41.51 near a one‑year high (C$42.01); the company has a market cap of C$78.0B, a P/E of ~19.3, and pays a quarterly dividend of C$0.20 (annualized C$0.80, ~1.9% yield).

Shares of Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE have been assigned a consensus recommendation of "Buy" from the fifteen analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$39.00.

A number of equities analysts recently issued reports on CVE shares. National Bank Financial increased their target price on shares of Cenovus Energy from C$30.00 to C$57.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. TD increased their target price on shares of Cenovus Energy from C$35.00 to C$45.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Jefferies Financial Group increased their target price on shares of Cenovus Energy from C$30.00 to C$37.00 in a research report on Monday, March 16th. Raymond James Financial increased their target price on shares of Cenovus Energy from C$33.00 to C$42.00 in a research report on Monday, March 30th. Finally, BMO Capital Markets cut their price target on shares of Cenovus Energy from C$38.00 to C$35.00 and set an "outperform" rating for the company in a report on Friday, February 20th.

Insiders Place Their Bets

In other Cenovus Energy news, insider John F. Soini sold 10,275 shares of the company's stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of C$35.13, for a total value of C$360,960.75. Following the completion of the sale, the insider directly owned 2,114 shares of the company's stock, valued at approximately C$74,264.82. This represents a 82.94% decrease in their position. Insiders own 32.03% of the company's stock.

Cenovus Energy Stock Up 1.8%

Cenovus Energy stock opened at C$41.51 on Wednesday. The company has a 50-day simple moving average of C$34.46 and a 200-day simple moving average of C$28.40. The firm has a market capitalization of C$78.02 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.09 and a beta of 0.23. The company has a debt-to-equity ratio of 53.80, a quick ratio of 1.00 and a current ratio of 1.57. Cenovus Energy has a one year low of C$16.02 and a one year high of C$42.01.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last released its quarterly earnings results on Thursday, February 19th. The company reported C$0.50 EPS for the quarter. The business had revenue of C$10.88 billion during the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. As a group, equities analysts expect that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy's dividend payout ratio is presently 36.28%.

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.

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