Cenovus Energy (TSE:CVE) PT Raised to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target lifted by Desjardins from C$31.50 to C$33.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

CVE has been the subject of several other research reports. National Bankshares upped their price target on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a research note on Friday, April 19th. CIBC upped their price target on Cenovus Energy from C$31.00 to C$35.00 and gave the stock an outperform rating in a research note on Monday, April 22nd. Raymond James set a C$33.00 price objective on Cenovus Energy and gave the stock an outperform rating in a research report on Wednesday, May 29th. Jefferies Financial Group boosted their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a buy rating in a research report on Friday, April 12th. Finally, BMO Capital Markets boosted their price objective on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy currently has an average rating of Buy and an average price target of C$34.08.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$27.34 on Tuesday. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03. The company has a market capitalization of C$51.13 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 0.09 and a beta of 2.77. The stock’s fifty day simple moving average is C$26.92 and its 200-day simple moving average is C$25.76.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Wednesday, May 1st. The company reported C$0.62 EPS for the quarter, beating analysts’ consensus estimates of C$0.47 by C$0.15. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The firm had revenue of C$13.40 billion for the quarter, compared to the consensus estimate of C$13.71 billion. On average, sell-side analysts predict that Cenovus Energy will post 2.7840467 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Friday, June 14th. Cenovus Energy’s payout ratio is presently 29.72%.

Insiders Place Their Bets

In other news, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$26.03, for a total value of C$5,206,700.00. In related news, Director Michael John Crothers acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average cost of C$26.37 per share, for a total transaction of C$26,369.50. Also, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$26.03, for a total value of C$5,206,700.00. Over the last three months, insiders acquired 13,000 shares of company stock worth $321,710 and sold 864,176 shares worth $22,697,316. Corporate insiders own 31.50% 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.