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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has received a consensus rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$30.67.

A number of equities research analysts have commented on the company. Jefferies Financial Group reduced their price target on Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. TD Securities reduced their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock 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. Raymond James upped their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Finally, National Bankshares lowered their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at C$21.64 on Thursday. The stock has a market cap of C$40.25 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The company’s fifty day moving average is C$21.82 and its 200 day moving average is C$23.81. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently 28.69%.

Insider Activity

In other news, Senior Officer Jeffery George Lawson bought 4,600 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. Also, insider Cenovus Energy Inc. purchased 44,700 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were acquired at an average price of C$22.07 per share, with a total value of C$986,658.63. Over the last 90 days, insiders have purchased 55,300 shares of company stock worth $1,214,190. Company insiders own 32.03% of the company’s stock.

About Cenovus Energy

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.