Cenovus Energy Inc. (TSE:CVE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$31.54.

CVE has been the topic of a number of recent research reports. CIBC increased their price objective on Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Desjardins increased their price objective on Cenovus Energy from C$28.00 to C$29.50 and gave the company a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. decreased their price objective on Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. National Bankshares decreased their price objective on Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Finally, Jefferies Financial Group increased their price target on Cenovus Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th.

Cenovus Energy Stock Up 0.6 %

Shares of CVE opened at C$27.08 on Friday. The company has a market capitalization of C$50.64 billion, a P/E ratio of 12.77, a PEG ratio of 0.09 and a beta of 2.79. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.18. The business’s 50 day simple moving average is C$23.44 and its 200-day simple moving average is C$24.33.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. The firm had revenue of C$13.13 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $0.39 EPS. As a group, sell-side analysts predict that Cenovus Energy will post 2.6896208 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

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 dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s payout ratio is presently 26.42%.

Insider Buying and Selling

In related news, Senior Officer Andrew Dahlin sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$27.08, for a total transaction of C$541,682.00. In other news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 20,000 shares of Cenovus Energy stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$27.08, for a total value of C$541,682.00. 31.50% of the stock is currently owned by company insiders.

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.