Cenovus Energy (TSE:CVE) Price Target Increased to C$32.00 by Analysts at TD Securities

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price lifted by TD Securities from C$30.00 to C$32.00 in a report released on Thursday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other research firms have also recently weighed in on CVE. CIBC lifted their price objective on Cenovus Energy from C$31.00 to C$35.00 and gave the company an outperform rating in a research report on Monday, April 22nd. BMO Capital Markets lifted their price target on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. National Bankshares increased their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a report on Friday, April 19th. Desjardins boosted their target price on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the company a buy rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group increased their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a buy rating in a research note on Friday, April 12th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of C$33.19.

Cenovus Energy Trading Down 0.5 %

Shares of Cenovus Energy stock traded down C$0.14 during midday trading on Thursday, reaching C$28.03. 5,434,022 shares of the company’s stock traded hands, compared to its average volume of 4,636,568. The stock has a 50 day moving average of C$26.88 and a 200-day moving average of C$24.52. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a market cap of C$52.42 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same period in the prior year, the business earned $0.39 EPS. As a group, equities analysts expect that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14. Cenovus Energy’s dividend payout ratio is currently 26.42%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of Cenovus Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. Insiders sold 87,000 shares of company stock valued at $2,414,507 over the last 90 days. Corporate insiders own 31.50% 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.