CIBC Boosts Cenovus Energy (TSE:CVE) Price Target to C$35.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by CIBC from C$31.00 to C$35.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

CVE has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Jefferies Financial Group upped their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a buy rating in a research report on Friday, April 12th. BMO Capital Markets increased their price objective on Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. National Bankshares boosted their target price on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Finally, Scotiabank dropped their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Cenovus Energy presently has a consensus rating of Moderate Buy and an average price target of C$33.35.

Cenovus Energy Trading Up 0.1 %

TSE CVE opened at C$29.10 on Monday. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The firm has a 50 day simple moving average of C$26.17 and a 200-day simple moving average of C$24.46. The firm has a market cap of C$54.42 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.09 and a beta of 2.78. 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 (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s payout ratio is 26.42%.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. In related news, Senior Officer Gary Frederick Molnar sold 24,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of C$29.06, for a total value of C$697,332.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Over the last quarter, insiders sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is owned by company insiders.

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.