Cenovus Energy (TSE:CVE) PT Raised to C$31.50

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price raised by Desjardins from C$29.50 to C$31.50 in a report published on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other brokerages have also issued reports on CVE. Royal Bank of Canada raised their price target on Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. National Bankshares raised their price target on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Jefferies Financial Group lifted their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the company a buy rating in a research note on Friday, April 12th. BMO Capital Markets lifted their price objective on Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. Finally, Scotiabank reduced their price objective on Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Cenovus Energy presently has an average rating of Moderate Buy and an average target price of C$33.35.

Cenovus Energy Trading Up 0.8 %

TSE:CVE opened at C$29.32 on Tuesday. The stock has a fifty day moving average price of C$26.40 and a two-hundred day moving average price of C$24.51. The stock has a market capitalization of C$54.83 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.09 and a beta of 2.78. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to analysts’ expectations of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same quarter last year, the business posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio is currently 26.42%.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. Also, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. Insiders sold 87,000 shares of company stock valued at $2,414,507 in the last three months. Corporate insiders own 31.50% of the company’s stock.

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.