Cenovus Energy (TSE:CVE) PT Raised to C$32.00 at Royal Bank of Canada

Cenovus Energy (TSE:CVE - Free Report) NYSE: CVE had its price target upped by Royal Bank of Canada from C$28.00 to C$32.00 in a research note published on Tuesday morning, BayStreet.CA reports.

A number of other equities research analysts have also commented on CVE. National Bankshares reduced their price objective on shares of Cenovus Energy from C$36.00 to C$29.00 and set an outperform rating on the stock in a research note on Wednesday, January 10th. Jefferies Financial Group increased their target price on shares of Cenovus Energy from C$27.00 to C$28.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Scotiabank cut their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. CIBC increased their target price on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. Finally, Desjardins increased 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 research note on Friday, March 22nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Cenovus Energy has a consensus rating of Moderate Buy and an average target price of C$31.58.

Cenovus Energy Trading Up 0.4 %

Shares of TSE:CVE traded up C$0.13 during trading on Tuesday, reaching C$29.27. The stock had a trading volume of 3,581,665 shares, compared to its average volume of 4,584,187. The firm's fifty day moving average is C$24.46 and its 200 day moving average is C$24.31. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.39. The stock has a market cap of C$54.73 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 0.09 and a beta of 2.79.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating analysts' consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The company had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. During the same period in the prior year, the firm posted $0.39 EPS. As a group, equities analysts forecast that Cenovus Energy will post 2.731203 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were given a $0.14 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.91%. Cenovus Energy's dividend payout ratio (DPR) is currently 26.42%.

Insider Activity

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. Over the last ninety days, insiders sold 87,000 shares of company stock worth $2,414,507. 31.50% of the stock is owned by company 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.