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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been given an average rating of “Buy” by the ten analysts that are covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$31.90.

Several equities research analysts have recently weighed in on CVE shares. Raymond James decreased their price target on Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th. BMO Capital Markets dropped their target price 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, November 1st. National Bankshares cut their price target on shares of Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. TD Securities raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group cut their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research report on Monday, September 16th.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of C$22.50 per share, with a total value of C$90,000.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of C$22.54 per share, for a total transaction of C$72,112.00. In the last ninety days, insiders bought 141,700 shares of company stock valued at $3,180,512. Corporate insiders own 32.03% of the company’s stock.

Cenovus Energy Trading Down 1.8 %

CVE opened at C$21.78 on Wednesday. The firm has a market capitalization of C$40.51 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The company’s 50 day moving average price is C$22.95 and its two-hundred day moving average price is C$25.16. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00.

Cenovus Energy Announces Dividend

The company 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s payout ratio is currently 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.