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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$29.41.

CVE has been the subject of several recent research reports. The Goldman Sachs Group raised Cenovus Energy to a “strong-buy” rating in a research report on Friday, January 2nd. Royal Bank Of Canada decreased their price target on shares of Cenovus Energy from C$32.00 to C$29.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Desjardins boosted their price objective on shares of Cenovus Energy from C$33.00 to C$33.50 and gave the stock a “buy” rating in a research note on Friday, December 12th. National Bank Financial upped their price objective on shares of Cenovus Energy from C$29.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Scotiabank raised their target price on shares of Cenovus Energy from C$29.00 to C$30.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th.

Cenovus Energy Trading Up 4.0%

CVE opened at C$31.68 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. Cenovus Energy has a 52 week low of C$14.48 and a 52 week high of C$31.81. The stock has a market cap of C$59.76 billion, a PE ratio of 18.31, a PEG ratio of 0.09 and a beta of 0.65. The business has a 50 day moving average of C$25.47 and a 200-day moving average of C$24.23.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, December 15th. Cenovus Energy’s dividend payout ratio (DPR) is 43.93%.

Insider Transactions at Cenovus Energy

In related news, Director Michael John Crothers bought 2,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were acquired at an average cost of C$24.23 per share, with a total value of C$48,460.00. Following the completion of the acquisition, the director owned 8,000 shares of the company’s stock, valued at C$193,840. The trade was a 33.33% increase in their position. Insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.