Cenovus Energy (TSE:CVE) PT Lowered to C$31.00 at BMO Capital Markets

by · The Cerbat Gem

Cenovus Energy (TSE:CVE – Free Report) (NYSE:CVE) had its target price cut by BMO Capital Markets from C$33.00 to C$31.00 in a report published on Friday, BayStreet.CA reports.

A number of other research analysts also recently commented on the company. TD Securities raised Cenovus Energy from a hold rating to a strong-buy rating in a report on Thursday. National Bankshares reduced their price target on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Scotiabank reduced their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Royal Bank of Canada cut their price objective on Cenovus Energy from C$33.00 to C$29.00 in a research note on Tuesday, September 17th. Finally, Desjardins upped their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of C$32.77.

View Our Latest Research Report on CVE

Cenovus Energy Price Performance

CVE stock opened at C$24.80 on Friday. The stock has a 50-day moving average price of C$24.48 and a two-hundred day moving average price of C$26.43. 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 company has a market cap of C$46.13 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) last issued its earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The company had revenue of C$14.89 billion during the quarter, compared to analysts’ expectations of C$13.44 billion. As a group, research analysts predict that Cenovus Energy will post 2.0660125 EPS for the current year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Buying and Selling

In other news, Senior Officer Jeffery George Lawson bought 4,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of C$22.50 per share, for a total transaction of C$90,000.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,000 shares of the stock in a transaction on Monday, September 30th. The stock was purchased at an average price of C$22.50 per share, with a total value of C$90,000.00. Also, Senior Officer Jonathan Michael Mckenzie purchased 100,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of C$22.25 per share, with a total value of C$2,225,000.00. Insiders have bought a total of 152,200 shares of company stock valued at $3,459,477 over the last three months. 32.03% of the stock is owned by corporate insiders.

About Cenovus Energy

(Get Free Report)

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.

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