TD Securities Cuts Cenovus Energy (TSE:CVE) Price Target to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by TD Securities from C$33.00 to C$31.00 in a report released on Tuesday morning, MarketBeat reports. They currently have a hold rating on the stock.

A number of other equities analysts have also recently issued reports on CVE. Jefferies Financial Group dropped their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a buy rating for the company in a report on Monday, September 16th. National Bankshares lowered their target price on shares of Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Desjardins raised their price target on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Scotiabank lowered their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Finally, Royal Bank of Canada reduced their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy currently has an average rating of Moderate Buy and an average price target of C$32.92.

Cenovus Energy Price Performance

Cenovus Energy stock opened at C$24.17 on Tuesday. Cenovus Energy has a 12-month low of C$19.82 and a 12-month high of C$29.96. 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 50-day moving average price of C$24.53 and a 200-day moving average price of C$26.43. The firm has a market capitalization of C$44.96 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data 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 firm had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. As a group, equities research analysts forecast that Cenovus Energy will post 2.0660125 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.98%. Cenovus Energy’s payout ratio is 28.69%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 3,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of C$27.21 per share, with a total value of C$95,235.00. In other news, Senior Officer Jeffery George Lawson bought 3,500 shares of Cenovus Energy stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of C$27.21 per share, for a total transaction of C$95,235.00. Also, Senior Officer Keith Chiasson purchased 25,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of C$23.40 per share, with a total value of C$585,000.00. Insiders purchased 152,200 shares of company stock valued at $3,459,477 in the last three months. 32.03% of the stock is owned by insiders.

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.