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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the firm, 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 1 year price target among brokerages that have issued a report on the stock in the last year is C$31.54.

A number of research analysts recently weighed in on CVE shares. Desjardins upped their price objective on Cenovus Energy from C$28.00 to C$29.50 and gave the stock a “buy” rating in a report on Friday, March 22nd. National Bankshares decreased their target price on Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Scotiabank reduced their price objective on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. BMO Capital Markets upped their price objective on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday. Finally, CIBC upped their price objective on Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd.

Cenovus Energy Trading Up 0.6 %

CVE opened at C$27.08 on Friday. The firm has a market cap of C$50.64 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.09 and a beta of 2.79. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64. The business’s 50 day moving average is C$23.44 and its two-hundred day moving average is C$24.33. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.18.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The firm had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, research analysts predict that Cenovus Energy will post 2.6896208 EPS for the current year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.56 annualized dividend and a yield of 2.07%. Cenovus Energy’s dividend payout ratio is presently 26.42%.

Insiders Place Their Bets

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 transaction of C$649,657.50. In related news, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the stock in a transaction dated Friday, February 16th. The stock was acquired at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. 31.50% of the stock is currently owned by 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.