TD Securities Trims Cenovus Energy (TSE:CVE) Target Price to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target decreased by TD Securities from C$33.00 to C$31.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. TD Securities currently has a hold rating on the stock.

Other analysts have also issued reports about the company. National Bankshares dropped their price target on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Desjardins lifted their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Scotiabank decreased their target price on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Jefferies Financial Group decreased their target price on Cenovus Energy from C$36.00 to C$33.00 and set a buy rating for the company in a research report on Monday, September 16th. Finally, Royal Bank of Canada decreased their target price on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of Buy and a consensus price target of C$32.77.

Cenovus Energy Stock Up 2.6 %

CVE stock opened at C$24.80 on Tuesday. Cenovus Energy has a twelve month low of C$19.82 and a twelve month 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 stock’s 50 day moving average is C$24.48 and its 200-day moving average is C$26.42. The firm has a market capitalization of C$46.13 billion, a PE ratio of 9.88, a P/E/G ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. The company had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Sell-side analysts expect that Cenovus Energy will post 2.0660125 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.90%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s payout ratio is 28.69%.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 3,500 shares of Cenovus Energy stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of C$27.21 per share, for a total transaction of C$95,235.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 3,500 shares of Cenovus Energy stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of C$27.21 per share, for a total transaction of C$95,235.00. Also, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of Cenovus Energy stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of C$22.25 per share, with a total value of C$2,225,000.00. Insiders acquired a total of 152,200 shares of company stock worth $3,459,477 over the last ninety days. 32.03% of the stock is owned by corporate 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.