Brokerages Set Cenovus Energy Inc. (TSE:CVE) PT at C$31.90

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has earned a consensus rating of “Buy” from the ten analysts that are covering the company, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$31.90.

Several brokerages have issued reports on CVE. Desjardins boosted their price target on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. BMO Capital Markets lowered their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday. Royal Bank of Canada lowered their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Scotiabank lowered their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th.

Cenovus Energy Trading Up 3.0 %

Shares of CVE stock opened at C$22.55 on Friday. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The firm’s fifty day simple moving average is C$23.47 and its 200 day simple moving average is C$25.84. The firm has a market capitalization of C$41.94 billion, a P/E ratio of 8.98, a price-to-earnings-growth 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 3.19%. Cenovus Energy’s dividend payout ratio (DPR) is 28.69%.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 7,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of C$25.98 per share, for a total transaction of C$194,850.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 7,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of C$25.98 per share, for a total transaction of C$194,850.00. Also, Senior Officer Keith Chiasson bought 25,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of C$23.40 per share, for a total transaction of C$585,000.00. Insiders have purchased a total of 152,700 shares of company stock worth $3,470,597 in the last 90 days. Corporate insiders own 32.03% of the company’s stock.

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.