Cenovus Energy Inc. (TSE:CVE) Receives Average Rating of “Buy” from Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received an average recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$31.20.

A number of equities research analysts have recently issued reports on the company. National Bankshares dropped their price target on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. TD Securities dropped their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, December 13th. Jefferies Financial Group reduced their price target on Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Raymond James upped their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada reduced their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st.

Cenovus Energy Stock Down 0.1 %

Shares of TSE CVE opened at C$21.08 on Friday. The stock has a market cap of C$39.21 billion, a PE ratio of 8.40, a P/E/G ratio of 0.09 and a beta of 2.63. 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 company has a 50-day moving average of C$22.09 and a 200 day moving average of C$24.15.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.42%. Cenovus Energy’s payout ratio is currently 28.69%.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 4,000 shares of Cenovus Energy stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of C$22.50 per share, with a total value of C$90,000.00. Insiders have bought a total of 14,600 shares of company stock valued at $317,531 over the last quarter. 32.03% of the stock is owned by company insiders.

Cenovus Energy Company Profile

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.