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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has received a consensus rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$30.44.

A number of analysts have recently commented on CVE shares. Royal Bank of Canada dropped their price objective on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Raymond James raised their price objective on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. BMO Capital Markets decreased their target price on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Jefferies Financial Group cut their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Tuesday. Finally, National Bankshares decreased their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th.

Cenovus Energy Stock Up 0.2 %

Shares of TSE:CVE opened at C$21.54 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. The firm has a market cap of C$40.06 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 0.09 and a beta of 2.63. The stock’s 50-day moving average price is C$21.77 and its two-hundred day moving average price is C$23.66. Cenovus Energy has a 12-month low of C$20.07 and a 12-month high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, October 31st. The company reported C$0.42 earnings per share (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 quarter last year, the firm earned $0.97 earnings per share. On average, research analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current year.

Cenovus Energy Dividend Announcement

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

Insider Buying and Selling

In related news, insider Cenovus Energy Inc. purchased 44,700 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average price of C$22.07 per share, for a total transaction of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of C$21.17 per share, for a total transaction of C$105,832.00. Insiders have bought 55,300 shares of company stock valued at $1,214,190 in the last quarter. Company insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

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.