Cenovus Energy Inc. (TSE:CVE) Given Average Rating of "Moderate Buy" by Analysts

Shares of Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE have been assigned an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$32.19.

CVE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. National Bankshares decreased their price target 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. BMO Capital Markets lifted their price objective on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. CIBC boosted 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. Finally, Jefferies Financial Group raised their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a "buy" rating in a research note on Friday.

Cenovus Energy Stock Performance

TSE:CVE traded up C$0.18 on Tuesday, hitting C$28.52. The company's stock had a trading volume of 7,522,730 shares, compared to its average volume of 4,703,250. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The stock has a fifty day moving average of C$25.20 and a two-hundred day moving average of C$24.36. The firm has a market capitalization of C$53.33 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping analysts' consensus estimates of C$0.33 by C$0.06. The firm had revenue of C$13.13 billion during the quarter, compared to analysts' expectations of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same period in the previous year, the business posted $0.39 earnings per share. Research analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy's dividend payout ratio (DPR) is presently 26.42%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was 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 Jonathan Michael Mckenzie acquired 50,000 shares of Cenovus Energy stock in a transaction that occurred 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 firm's stock in a transaction on Wednesday, March 20th. The stock was 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 valued at $2,414,507 in the last quarter. Insiders own 31.50% of the company's stock.

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.