BMO Capital Markets Cuts Cenovus Energy (TSE:CVE) Price Target to C$28.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective reduced by BMO Capital Markets from C$31.00 to C$28.00 in a research report sent to investors on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

CVE has been the topic of a number of other reports. Scotiabank dropped their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. National Bankshares dropped their target price on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Desjardins lifted their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Raymond James decreased their price objective on Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada dropped their price objective on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$31.90.

Cenovus Energy Price Performance

CVE opened at C$21.89 on Friday. The company has a market capitalization of C$40.72 billion, a price-to-earnings ratio of 8.72, a PEG 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 has a 12-month low of C$19.82 and a 12-month high of C$29.96. The business’s fifty day simple moving average is C$23.53 and its 200-day simple moving average is C$25.88.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The business had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. On average, equities research analysts anticipate that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Geoffrey Murray acquired 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average cost of C$22.54 per share, with a total value of C$72,112.00. In related news, Senior Officer Geoffrey Murray acquired 3,200 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of C$22.25 per share, for a total transaction of C$2,225,000.00. Over the last 90 days, insiders have acquired 152,200 shares of company stock worth $3,459,477. 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.