Cenovus Energy (TSE:CVE) Price Target Cut to C$29.00 by Analysts at Royal Bank of Canada

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price trimmed by Royal Bank of Canada from C$33.00 to C$29.00 in a report released on Tuesday morning, BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. National Bankshares upped their price objective on Cenovus Energy from C$36.00 to C$38.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Desjardins upped their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Scotiabank reduced their target price on Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Raymond James set a C$33.00 target price on Cenovus Energy and gave the stock an outperform rating in a research note on Wednesday, May 29th. Finally, Jefferies Financial Group reduced their target price on Cenovus Energy from C$36.00 to C$33.00 and set a buy rating for the company in a research note on Monday, September 16th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy currently has an average rating of Buy and a consensus price target of C$33.54.

Cenovus Energy Trading Down 0.6 %

Cenovus Energy stock opened at C$23.21 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The stock’s 50 day simple moving average is C$25.34 and its two-hundred day simple moving average is C$26.50. The firm has a market cap of C$43.17 billion, a PE ratio of 9.25, a P/E/G ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The company had revenue of C$14.89 billion during the quarter, compared to analysts’ expectations of C$13.44 billion. Analysts anticipate that Cenovus Energy will post 2.2599805 earnings per share for the current year.

Cenovus Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 7,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of C$25.98 per share, with a total value of C$194,850.00. In related news, Senior Officer Jeffery George Lawson bought 7,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of C$25.98 per share, with a total value of C$194,850.00. Also, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of C$22.25 per share, with a total value of C$2,225,000.00. In the last ninety days, insiders bought 148,200 shares of company stock valued at $3,369,477. 31.71% of the stock is owned by 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.