Cenovus Energy Inc. (TSE:CVE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$29.89.

Several research firms recently commented on CVE. TD Securities decreased their price objective on shares of Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada lowered their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. National Bankshares downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$28.00 to C$25.00 in a research report on Friday, February 21st. Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, National Bank Financial downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Karamjit Singh Sandhar bought 5,000 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of C$20.05 per share, for a total transaction of C$100,250.00. Also, Senior Officer John F. Soini purchased 4,104 shares of the stock in a transaction on Tuesday, March 18th. The shares were purchased at an average cost of C$19.48 per share, with a total value of C$79,945.92. Insiders have purchased a total of 26,054 shares of company stock worth $520,272 in the last three months. Company insiders own 32.03% of the company’s stock.

Cenovus Energy Stock Up 1.4 %

CVE opened at C$20.00 on Tuesday. Cenovus Energy has a one year low of C$17.42 and a one year high of C$29.96. The company has a market cap of C$36.43 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.09 and a beta of 2.63. The business’s fifty day moving average is C$20.41 and its two-hundred day moving average is C$21.68. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is 35.49%.

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.