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

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$33.50.

Several research analysts have commented on CVE shares. Jefferies Financial Group lifted their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their target price on shares of Cenovus Energy from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Desjardins lifted their target price on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. CIBC lifted their target price on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Finally, National Bankshares lifted their target price on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th.

Cenovus Energy Price Performance

CVE stock opened at C$26.89 on Friday. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The firm has a market capitalization of C$50.28 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 0.09 and a beta of 2.77. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03. The firm has a 50 day moving average of C$27.35 and a 200-day moving average of C$25.06.

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

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Friday, June 14th. Cenovus Energy’s dividend payout ratio (DPR) is 29.72%.

Insiders Place Their Bets

In other Cenovus Energy news, Director Melanie Anne Little purchased 2,000 shares of Cenovus Energy stock in a transaction dated Thursday, June 13th. The stock was purchased at an average price of C$18.43 per share, with a total value of C$36,860.00. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Director Melanie Anne Little bought 2,000 shares of Cenovus Energy stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of C$18.43 per share, with a total value of C$36,860.00. In the last 90 days, insiders acquired 13,000 shares of company stock valued at $321,710 and sold 906,176 shares valued at $23,920,484. 31.50% of the stock is 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.