Analysts Set Cenovus Energy Inc. (TSE:CVE) Target Price at C$30.33

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is C$30.33.

Several research analysts have commented on CVE shares. Royal Bank of Canada lowered their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. National Bankshares lowered their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Raymond James upped their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. BMO Capital Markets lowered their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Finally, Jefferies Financial Group lowered their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th.

Cenovus Energy Stock Down 1.9 %

TSE CVE opened at C$21.73 on Monday. 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 has a 1-year low of C$20.16 and a 1-year high of C$29.96. The company has a 50 day moving average of C$21.51 and a 200-day moving average of C$23.03. The company has a market cap of C$40.42 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.31%. Cenovus Energy’s dividend payout ratio (DPR) is currently 28.69%.

Insider Activity

In other Cenovus Energy news, insider Cenovus Energy Inc. purchased 44,700 shares of the stock in a transaction on Monday, December 2nd. The stock was acquired at an average cost of C$22.07 per share, with a total value of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of C$21.17 per share, with a total value of C$105,832.00. Insiders bought 54,800 shares of company stock worth $1,203,070 in the last three months. Corporate insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.