Analysts Set Cenovus Energy Inc. (TSE:CVE) Price Target at C$32.19

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$32.19.

A number of brokerages recently commented on CVE. Desjardins increased their price target on Cenovus Energy from C$28.00 to C$29.50 and gave the company a “buy” rating in a report on Friday, March 22nd. Royal Bank of Canada increased their price target on Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. BMO Capital Markets increased their price target on Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. reduced their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Finally, National Bankshares reduced their price target on Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th.

Insiders Place Their Bets

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. Also, Senior Officer Gary Frederick Molnar sold 24,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of C$29.06, for a total value of C$697,332.00. Insiders have sold a total of 87,000 shares of company stock valued at $2,414,507 in the last quarter. Insiders own 31.50% of the company’s stock.

Cenovus Energy Price Performance

CVE stock opened at C$28.46 on Tuesday. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The firm has a market cap of C$53.22 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The stock has a 50-day simple moving average of C$25.62 and a 200-day simple moving average of C$24.42.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter last year, the firm earned $0.39 earnings per share. On average, equities analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s dividend payout ratio is presently 26.42%.

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.