Raymond James Issues Positive Forecast for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price upped by Raymond James from C$32.00 to C$33.00 in a research note published on Friday morning,BayStreet.CA reports.

A number of other research firms also recently issued reports on CVE. TD Securities decreased their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday. BMO Capital Markets dropped their target price on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Jefferies Financial Group decreased their price target on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada lowered their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, National Bankshares cut their price objective on shares of Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$31.50.

Cenovus Energy Stock Up 1.9 %

CVE opened at C$21.71 on Friday. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The firm has a 50-day simple moving average of C$22.74 and a two-hundred day simple moving average of C$24.66. The company has a market capitalization of C$40.38 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insiders Place Their Bets

In other news, Senior Officer Jeffery George Lawson bought 4,600 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. Also, Senior Officer Geoffrey Murray purchased 3,200 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Insiders have purchased 12,300 shares of company stock worth $273,236 in the last three months. Corporate insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

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.