National Bankshares Has Lowered Expectations for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target cut by National Bankshares from C$29.00 to C$28.00 in a research report released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also recently commented on CVE. BMO Capital Markets cut their price target on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. TD Securities dropped their price objective on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Jefferies Financial Group dropped their price objective on Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday. Royal Bank of Canada lowered their target price on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Finally, Raymond James upped their target price on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$30.33.

Cenovus Energy Price Performance

Shares of TSE CVE opened at C$21.58 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. Cenovus Energy has a twelve month low of C$20.42 and a twelve month high of C$29.96. The stock has a 50 day moving average of C$21.66 and a two-hundred day moving average of C$23.42. The stock has a market cap of C$40.14 billion, a P/E ratio of 8.60, a P/E/G ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, October 31st. The company reported C$0.42 EPS for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. During the same period in the previous year, the firm posted $0.97 EPS. On average, research analysts forecast that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.34%. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 5,000 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of C$21.17 per share, for a total transaction of C$105,832.00. Also, insider Cenovus Energy Inc. bought 44,700 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were bought at an average cost of C$22.07 per share, for a total transaction of C$986,658.63. Insiders purchased 55,300 shares of company stock worth $1,214,190 in the last 90 days. 32.03% of the stock is currently owned by company insiders.

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.