Cenovus Energy Inc. (TSE:CVE) Given Average Rating of “Buy” by Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received an average rating of “Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is C$31.20.

CVE has been the topic of several analyst reports. National Bankshares dropped their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday. TD Securities cut their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. BMO Capital Markets lowered their price objective on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Raymond James lifted their price objective on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Finally, Jefferies Financial Group reduced their target price on Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research note on Friday.

Insider Activity

In other news, Senior Officer Jeffery George Lawson purchased 4,600 shares of the stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of C$21.74 per share, for a total transaction of C$100,004.00. In the last three months, insiders acquired 9,600 shares of company stock valued at $211,699. Company insiders own 32.03% of the company’s stock.

Cenovus Energy Trading Up 0.2 %

CVE opened at C$20.71 on Friday. The firm’s 50 day moving average is C$22.37 and its 200-day moving average is C$24.34. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The firm has a market capitalization of C$38.52 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The firm 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 dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.48%. Cenovus Energy’s dividend payout ratio (DPR) is 28.69%.

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.