Cenovus Energy Inc. (TSE:CVE) Stock Has Consensus Price Target of C$45.19 According to Analysts

Key Points

• Analysts broadly favor Cenovus Energy: Fourteen firms give the stock a consensus “Buy” rating, with 11 buys, two strong buys and one hold. The average 12-month price target is C$45.19, while recent targets range as high as C$60.
• Cenovus reported quarterly EPS of C$1.53 on C$17.43 billion in revenue, alongside a 21.02% return on equity and 12.37% net margin.
• The company’s quarterly dividend is C$0.22 per share, equivalent to an annualized C$0.88 and a 1.9% yield. Insiders sold roughly 601,524 shares worth C$25.5 million over the past three months.

Shares of Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE have been assigned a consensus recommendation of "Buy" from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$45.19.

Several research analysts have issued reports on CVE shares. National Bank Financial set a C$60.00 target price on shares of Cenovus Energy and gave the stock an "outperform" rating in a report on Wednesday. TD boosted their price target on shares of Cenovus Energy from C$46.00 to C$49.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Gerdes Energy Research raised shares of Cenovus Energy from a "neutral" rating to a "buy" rating and upped their price target for the stock from C$42.00 to C$46.00 in a research report on Monday, June 29th. Desjardins set a C$50.00 price objective on shares of Cenovus Energy and gave the company a "buy" rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of Cenovus Energy from C$47.00 to C$51.00 and gave the company an "outperform" rating in a report on Thursday, July 30th.

Cenovus Energy Price Performance

Shares of CVE stock opened at C$46.25 on Friday. Cenovus Energy has a twelve month low of C$21.62 and a twelve month high of C$47.45. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 34.01. The stock has a fifty day simple moving average of C$43.77 and a two-hundred day simple moving average of C$39.79. The stock has a market capitalization of C$85.30 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 0.09 and a beta of 0.19.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$1.53 EPS for the quarter. The firm had revenue of C$17.43 billion for the quarter. Cenovus Energy had a return on equity of 21.02% and a net margin of 12.37%. On average, analysts predict that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is 22.78%.

Insider Activity

In other news, Director Alex Pourbaix sold 432,731 shares of Cenovus Energy stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$42.05, for a total value of C$18,196,338.55. Following the transaction, the director directly owned 1,455,996 shares in the company, valued at approximately C$61,224,631.80. This trade represents a 22.91% decrease in their position. Also, insider John F. Soini sold 26,223 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of C$44.92, for a total value of C$1,177,937.16. Following the completion of the transaction, the insider directly owned 2,114 shares of the company's stock, valued at approximately C$94,960.88. The trade was a 92.54% decrease in their ownership of the stock. In the last three months, insiders have sold 601,524 shares of company stock worth $25,546,211. 32.03% of the stock is currently owned by company 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.

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