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

Key Points

• Consensus "Buy": Thirteen analysts covering Cenovus give an average recommendation of "Buy" (8 buy, 3 strong buy, 2 hold) with a 1‑year average target of C$37.25.
• Analyst upgrades and valuation: Several firms recently raised targets (RBC and Raymond James to C$42, TD to C$35) while the stock trades around C$35.80, has a market cap of ~C$67.3B and a PE of 16.65.
• Dividend and recent results: Cenovus paid a quarterly dividend of C$0.20 (C$0.80 annualized, ~2.2% yield) and reported quarterly EPS of C$0.50 on C$10.88B revenue.

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE has been assigned an average recommendation of "Buy" from the thirteen research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$37.25.

Several research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Cenovus Energy from C$32.00 to C$42.00 and gave the stock an "outperform" rating in a report on Wednesday. TD Securities boosted their price target on shares of Cenovus Energy from C$28.00 to C$35.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Raymond James Financial boosted their target price on shares of Cenovus Energy from C$33.00 to C$42.00 in a research note on Monday, March 30th. Veritas upgraded shares of Cenovus Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. Finally, Gerdes Energy Research cut shares of Cenovus Energy from a "buy" rating to a "neutral" rating in a research note on Friday, March 20th.

Cenovus Energy Stock Up 0.9%

Cenovus Energy stock opened at C$35.80 on Friday. Cenovus Energy has a fifty-two week low of C$15.21 and a fifty-two week high of C$38.50. The stock has a market cap of C$67.29 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.09 and a beta of 0.07. The firm's 50-day simple moving average is C$32.21 and its 200 day simple moving average is C$27.07. 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 (TSE:CVE - Get Free Report) NYSE: CVE last released its quarterly earnings results on Thursday, February 19th. The company reported C$0.50 earnings per share for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. The business had revenue of C$10.88 billion for the quarter. Research analysts predict that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, March 13th. Cenovus Energy's payout ratio is presently 36.28%.

Insiders Place Their Bets

In other Cenovus Energy news, insider John F. Soini sold 10,275 shares of the business'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 transaction, the insider directly owned 2,114 shares in the company, valued at C$74,264.82. The trade was a 82.94% decrease in their ownership of the stock. 32.03% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.