Brokerages Set Cenovus Energy Inc (TSE:CVE) PT at C$15.07

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Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has received an average recommendation of “Buy” from the seventeen brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$15.07.

A number of brokerages have recently issued reports on CVE. CSFB dropped their price target on shares of Cenovus Energy from C$17.00 to C$16.00 in a research note on Thursday, August 29th. National Bank Financial increased their target price on Cenovus Energy from C$16.00 to C$18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on Cenovus Energy from C$17.00 to C$15.00 in a report on Friday, October 18th. CIBC reduced their price target on Cenovus Energy from C$16.50 to C$16.00 in a report on Tuesday, October 15th. Finally, AltaCorp Capital upgraded Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 31st.

Cenovus Energy stock traded up C$0.26 during trading hours on Friday, reaching C$11.61. 1,907,813 shares of the stock were exchanged, compared to its average volume of 3,385,277. Cenovus Energy has a 52-week low of C$8.74 and a 52-week high of C$14.31. The stock has a market cap of $13.95 billion and a P/E ratio of 19.93. The company has a debt-to-equity ratio of 46.38, a quick ratio of 0.60 and a current ratio of 1.12. The firm’s 50 day moving average is C$11.74 and its 200 day moving average is C$11.72.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.05. This represents a $0.25 dividend on an annualized basis and a yield of 2.15%. Cenovus Energy’s dividend payout ratio (DPR) is 34.19%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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