Cenovus Energy (TSE:CVE) Given New C$31.00 Price Target at BMO Capital Markets

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective reduced by BMO Capital Markets from C$33.00 to C$31.00 in a research report sent to investors on Friday, BayStreet.CA reports.

Several other research firms have also recently issued reports on CVE. TD Securities upgraded shares of Cenovus Energy from a hold rating to a strong-buy rating in a research note on Thursday. Scotiabank decreased their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Royal Bank of Canada reduced their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a report on Tuesday, September 17th. Jefferies Financial Group reduced their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a buy rating on the stock in a report on Monday, September 16th. Finally, Desjardins increased their price target on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cenovus Energy currently has an average rating of Buy and a consensus target price of C$32.77.

Cenovus Energy Trading Up 2.6 %

TSE:CVE opened at C$24.80 on Friday. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The firm has a 50-day moving average of C$24.48 and a 200-day moving average of C$26.43. The company has a market cap of C$46.13 billion, a PE ratio of 9.88, a PEG ratio of 0.09 and a beta of 2.67. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. As a group, equities research analysts expect that Cenovus Energy will post 2.0660125 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.90%. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jonathan Michael Mckenzie purchased 100,000 shares of Cenovus Energy stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of C$22.25 per share, for a total transaction of C$2,225,000.00. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of C$22.25 per share, for a total transaction of C$2,225,000.00. Also, Senior Officer Jeffery George Lawson bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of C$27.21 per share, with a total value of C$95,235.00. In the last ninety days, insiders bought 152,200 shares of company stock worth $3,459,477. 32.03% 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.