Cenovus Energy (TSE:CVE) Hits New 12-Month High at $29.25

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE's share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$29.25 and last traded at C$29.20, with a volume of 2234850 shares. The stock had previously closed at C$29.05.

Analysts Set New Price Targets

CVE has been the topic of several recent analyst reports. National Bankshares cut their target price on shares of Cenovus Energy from C$36.00 to C$29.00 and set an "outperform" rating on the stock in a report on Wednesday, January 10th. Desjardins raised their target price on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the stock a "buy" rating in a report on Friday, March 22nd. JPMorgan Chase & Co. cut their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. BMO Capital Markets boosted their price objective on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Finally, CIBC raised their price target on Cenovus Energy from C$30.00 to C$31.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy has a consensus rating of "Moderate Buy" and an average price target of C$31.58.

Cenovus Energy Price Performance

The company has a market capitalization of C$54.49 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 0.09 and a beta of 2.79. The stock has a fifty day simple moving average of C$24.46 and a 200-day simple moving average of C$24.31. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last announced its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same period in the prior year, the company posted $0.39 EPS. On average, equities research analysts anticipate that Cenovus Energy Inc. will post 2.731203 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, March 14th. Cenovus Energy's payout ratio is currently 26.42%.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00. In related news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of Cenovus Energy stock in a transaction on Friday, February 16th. The shares were bought at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. Insiders sold a total of 87,000 shares of company stock worth $2,414,507 in the last three months. 31.50% of the stock is owned by corporate insiders.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.