Cenovus Energy Inc. (TSE:CVE) Receives Average Recommendation of “Buy” from Analysts

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been given a consensus rating of “Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have covered the stock in the last year is C$34.08.

CVE has been the subject of a number of recent research reports. National Bankshares increased their target price on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Jefferies Financial Group raised their target price on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Scotiabank dropped their price target on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Desjardins lifted their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Raymond James set a C$33.00 price objective on Cenovus Energy and gave the stock an “outperform” rating in a research note on Wednesday, May 29th.

Cenovus Energy Price Performance

TSE:CVE opened at C$27.05 on Thursday. The stock has a 50 day moving average of C$26.91 and a two-hundred day moving average of C$25.85. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The firm has a market cap of C$50.58 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.09 and a beta of 2.77. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Wednesday, May 1st. The company reported C$0.62 EPS for the quarter, topping the consensus estimate of C$0.47 by C$0.15. The firm had revenue of C$13.40 billion during the quarter, compared to analysts’ expectations of C$13.71 billion. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. On average, analysts expect that Cenovus Energy will post 2.7840467 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 28th were paid a $0.18 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.66%. Cenovus Energy’s payout ratio is presently 29.72%.

Insider Activity at Cenovus Energy

In related news, Director Alex Pourbaix sold 200,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$25.14, for a total transaction of C$5,028,880.00. In related news, Director Alex Pourbaix sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$25.14, for a total transaction of C$5,028,880.00. Also, Senior Officer Jeffery George Lawson purchased 2,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was acquired at an average cost of C$25.24 per share, with a total value of C$50,480.00. In the last 90 days, insiders have bought 13,000 shares of company stock worth $321,710 and have sold 864,176 shares worth $22,697,316. Company insiders own 31.50% of the company’s stock.

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.