Cenovus Energy (TSE:CVE) Price Target Lowered to C$32.00 at Raymond James

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by Raymond James from C$33.00 to C$32.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

Several other analysts have also commented on CVE. Scotiabank decreased their price target on Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. TD Securities upgraded shares of Cenovus Energy from a hold rating to a strong-buy rating in a research note on Thursday, October 3rd. Royal Bank of Canada dropped their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. BMO Capital Markets reduced their price target on shares of Cenovus Energy from C$33.00 to C$31.00 in a research report on Friday, October 4th. Finally, Jefferies Financial Group decreased their price objective on shares of Cenovus Energy from C$36.00 to C$33.00 and set a buy rating on the stock in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of C$32.45.

Cenovus Energy Trading Down 5.4 %

Shares of CVE stock opened at C$23.23 on Tuesday. The firm has a fifty day moving average of C$24.19 and a 200-day moving average of C$26.33. The stock has a market cap of C$43.21 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.09 and a beta of 2.67. Cenovus Energy has a 52-week low of C$19.82 and a 52-week 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.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted 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). The business had revenue of C$14.89 billion during the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. On average, equities research analysts forecast that Cenovus Energy will post 2.0660125 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson purchased 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of C$27.21 per share, with a total value of C$95,235.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson acquired 3,500 shares of Cenovus Energy 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. Also, Senior Officer Keith Chiasson bought 25,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of C$23.40 per share, with a total value of C$585,000.00. In the last ninety days, insiders have bought 152,200 shares of company stock worth $3,459,477. Insiders own 32.03% 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.