Cenovus Energy Inc. (TSE:CVE) Given Consensus Rating of “Buy” by Brokerages

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has earned a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$32.55.

CVE has been the subject of a number of research analyst reports. BMO Capital Markets cut their target price on shares of Cenovus Energy from C$33.00 to C$31.00 in a research note on Friday, October 4th. National Bankshares decreased their target price 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 company a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from C$33.00 to C$29.00 in a report on Tuesday, September 17th. Finally, TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 3rd.

Cenovus Energy Price Performance

TSE CVE opened at C$24.55 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 debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. The stock has a market capitalization of C$45.66 billion, a PE ratio of 9.78, a P/E/G ratio of 0.09 and a beta of 2.67. The stock has a 50-day simple moving average of C$24.22 and a 200 day simple moving average of C$26.36.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Research analysts anticipate that Cenovus Energy will post 2.0660125 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 annualized dividend and a yield of 2.93%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Activity

In other news, Senior Officer Jeffery George Lawson acquired 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of C$27.21 per share, with a total value of C$95,235.00. In related news, Senior Officer Keith Chiasson acquired 25,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of C$23.40 per share, with a total value of C$585,000.00. Also, Senior Officer Jeffery George Lawson bought 3,500 shares of Cenovus Energy stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of C$27.21 per share, for a total transaction of C$95,235.00. Over the last quarter, insiders have bought 152,200 shares of company stock valued at $3,459,477. 32.03% of the stock is owned by insiders.

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.