Canaccord Genuity Lowers Cenovus Energy (TSE:CVE) Price Target to C$13.50

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target trimmed by Canaccord Genuity from C$15.00 to C$13.50 in a report published on Tuesday, BayStreet.CA reports.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. restated a hold rating and issued a $7.00 price target on shares of Deutsche Bank in a research note on Thursday, April 25th. GMP Securities restated a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. BMO Capital Markets restated a hold rating and issued a $9.50 price target on shares of Vicon Industries in a research note on Friday, June 14th. UBS Group upgraded to a neutral rating and upped their price target for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a research note on Thursday, June 20th. Finally, National Bank Financial cut their target price on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of C$14.70.

Cenovus Energy stock opened at C$12.46 on Tuesday. The company has a debt-to-equity ratio of 56.55, a current ratio of 1.10 and a quick ratio of 0.65. The stock has a market cap of $14.29 billion and a P/E ratio of -8.03. The stock has a 50 day moving average of C$11.40. Cenovus Energy has a twelve month low of C$8.74 and a twelve month high of C$14.26.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported C$0.06 earnings per share for the quarter, missing the consensus estimate of C$0.17 by C($0.11). The company had revenue of C$5.20 billion during the quarter, compared to the consensus estimate of C$5.01 billion. Research analysts predict that Cenovus Energy will post 0.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.20 annualized dividend and a yield of 1.61%. Cenovus Energy’s dividend payout ratio is -12.89%.

In other Cenovus Energy news, Director Keith A.J. Macphail bought 14,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were acquired at an average cost of C$13.46 per share, for a total transaction of C$188,440.00. Following the purchase, the director now owns 172,000 shares in the company, valued at approximately C$2,315,120.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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