Cenovus Energy (TSE:CVE) Price Target Raised to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lifted by Raymond James from C$32.00 to C$33.00 in a research note released on Friday morning,BayStreet.CA reports.

A number of other equities analysts have also issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday, September 16th. TD Securities reduced their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a report on Friday. BMO Capital Markets lowered their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada reduced their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, National Bankshares lowered their target price on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$31.50.

Cenovus Energy Stock Performance

CVE opened at C$21.71 on Friday. The company has a market cap of C$40.38 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The firm’s 50-day moving average price is C$22.74 and its 200-day moving average price is C$24.66. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.32%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s payout ratio is presently 28.69%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson purchased 4,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of C$22.50 per share, for a total transaction of C$90,000.00. Also, Senior Officer Geoffrey Murray acquired 3,200 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Insiders have purchased a total of 12,300 shares of company stock valued at $273,236 over the last ninety days. Corporate insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

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.