Cenovus Energy (TSE:CVE) PT Lowered to C$31.00 at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target lowered by National Bankshares from C$38.00 to C$31.00 in a research note released on Friday, BayStreet.CA reports.

Several other research analysts have also issued reports on CVE. Scotiabank decreased their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Royal Bank of Canada decreased their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a research note on Tuesday, September 17th. Jefferies Financial Group lowered their target price on shares of 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. Finally, Desjardins upped their price target on 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. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of C$33.00.

Cenovus Energy Stock Up 0.6 %

CVE stock opened at C$22.62 on Friday. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The company has a market capitalization of C$42.07 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. The business’s 50 day moving average price is C$24.84 and its two-hundred day moving average price is C$26.49. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly 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). The firm had revenue of C$14.89 billion during the quarter, compared to analysts’ expectations 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, analysts forecast that Cenovus Energy will post 2.2599805 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy’s payout ratio is currently 28.69%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average price of C$22.25 per share, for a total transaction of C$2,225,000.00. In other news, Senior Officer Jeffery George Lawson acquired 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of C$25.98 per share, with a total value of C$194,850.00. Also, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of C$22.25 per share, for a total transaction of C$2,225,000.00. Insiders have acquired 152,200 shares of company stock valued at $3,459,477 over the last ninety days. Insiders own 31.71% 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.