Cenovus Energy (CVE) Price Target Lowered to C$14.50 at CIBC

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price lowered by CIBC from C$17.00 to C$14.50 in a research report sent to investors on Thursday morning.

A number of other research analysts have also recently commented on the stock. Canaccord Genuity dropped their target price on shares of Cenovus Energy from C$13.50 to C$12.50 in a report on Tuesday, November 20th. Morgan Stanley dropped their target price on shares of Cenovus Energy from C$17.00 to C$15.00 in a report on Tuesday, November 20th. Raymond James reissued a market perform rating and issued a C$17.00 target price on shares of Cenovus Energy in a report on Thursday, November 1st. TD Securities upped their price objective on Cenovus Energy from C$14.00 to C$15.00 and gave the company a buy rating in a research note on Thursday, November 1st. Finally, JPMorgan Chase & Co. raised Cenovus Energy from a neutral rating to an outperform rating and upped their price objective for the company from C$16.00 to C$17.00 in a research note on Monday, September 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Cenovus Energy currently has a consensus rating of Buy and a consensus price target of C$16.17.

CVE stock opened at C$9.25 on Thursday. The company has a debt-to-equity ratio of 52.75, a current ratio of 1.26 and a quick ratio of 0.80. Cenovus Energy has a 12 month low of C$9.02 and a 12 month high of C$14.84.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, December 13th. Cenovus Energy’s dividend payout ratio is currently -35.46%.

In other news, insider Jonathan Michael Mckenzie acquired 25,000 shares of the stock in a transaction dated Wednesday, November 21st. The stock was bought at an average price of C$10.23 per share, with a total value of C$255,750.00.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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