Cenovus Energy Inc. (TSE:CVE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$33.50.

A number of analysts have issued reports on CVE shares. TD Securities lifted their price target on Cenovus Energy from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their target price on Cenovus Energy from C$32.00 to C$33.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. National Bankshares upped their target price on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. CIBC upped their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Finally, Jefferies Financial Group upped their target price on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Jonathan Michael Mckenzie sold 180,180 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$28.26, for a total transaction of C$5,091,508.42. In other news, Senior Officer Jonathan Michael Mckenzie sold 180,180 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$28.26, for a total transaction of C$5,091,508.42. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction that occurred 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 302,062 shares of company stock valued at $8,486,997 in the last ninety days. Insiders own 31.50% of the company’s stock.

Cenovus Energy Trading Down 1.6 %

TSE:CVE opened at C$26.25 on Wednesday. The firm has a market cap of C$49.09 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.09 and a beta of 2.77. The stock has a fifty day moving average price of C$28.19 and a 200 day moving average price of C$24.73. Cenovus Energy has a 12-month low of C$19.82 and a 12-month high of C$29.96. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Wednesday, May 1st. The company reported C$0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.47 by C$0.15. The firm had revenue of C$13.40 billion during the quarter, compared to analyst estimates of C$13.71 billion. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. Sell-side analysts anticipate that Cenovus Energy will post 2.7840467 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, June 14th. Cenovus Energy’s dividend payout ratio is presently 29.72%.

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.