Cenovus Energy (TSE:CVE) Upgraded by CSFB to Outperform

CSFB upgraded shares of Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, BayStreet.CA reports. CSFB currently has C$35.00 target price on the stock, down from their prior target price of C$37.00.

Other equities analysts also recently issued reports about the company. National Bankshares lowered their price objective on Cenovus Energy from C$38.00 to C$36.00 in a research report on Friday, September 30th. Scotiabank reduced their target price on Cenovus Energy from C$34.00 to C$33.00 in a research report on Thursday, October 13th. Credit Suisse Group restated an outperform rating and set a C$37.00 target price on shares of Cenovus Energy in a research report on Thursday, August 11th. Royal Bank of Canada boosted their target price on Cenovus Energy from C$31.00 to C$32.00 and gave the stock an outperform rating in a research report on Thursday, November 3rd. Finally, Jefferies Financial Group set a C$35.00 price objective on Cenovus Energy and gave the stock a buy rating in a report on Wednesday, October 19th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy currently has a consensus rating of Buy and a consensus target price of C$30.87.

Cenovus Energy Price Performance

Cenovus Energy stock opened at C$26.98 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.00 and a debt-to-equity ratio of 41.92. The company has a market capitalization of C$51.77 billion and a PE ratio of 10.34. Cenovus Energy has a 12 month low of C$13.86 and a 12 month high of C$31.19. The stock has a 50-day moving average price of C$25.46 and a two-hundred day moving average price of C$25.17.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, November 17th. Cenovus Energy’s dividend payout ratio is currently 10.73%.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Keith Chiasson purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were bought at an average price of C$20.07 per share, for a total transaction of C$200,692.00. Following the purchase, the insider now directly owns 93,280 shares of the company’s stock, valued at approximately C$1,872,054.98. In other news, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of C$24.79, for a total transaction of C$4,957,920.00. Following the transaction, the director now directly owns 1,129,894 shares of the company’s stock, valued at approximately C$28,009,620.30. Also, Senior Officer Keith Chiasson bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was bought at an average cost of C$20.07 per share, for a total transaction of C$200,692.00. Following the completion of the acquisition, the insider now owns 93,280 shares in the company, valued at approximately C$1,872,054.98.

About Cenovus Energy

(Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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