Cenovus Energy PT Raised to $40.00 (CVE)
Analysts at RBC Capital upped their price objective on shares of Cenovus Energy (NYSE:CVE) from $39.00 to $40.00 in a research report issued to clients and investors on Friday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would indicate a potential upside of 34.95% from the stock’s previous close.
Cenovus Energy (NYSE:CVE) traded up 0.17% on Friday, hitting $29.64. The stock had a trading volume of 1,207,865 shares. Cenovus Energy has a 52 week low of $27.25 and a 52 week high of $37.30. The stock’s 50-day moving average is $29.10 and its 200-day moving average is $29.85. The company has a market cap of $22.403 billion and a P/E ratio of 42.21.
Cenovus Energy (NYSE:CVE) last released its earnings data on Thursday, October 24th. The company reported $0.41 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.49 by $0.08. During the same quarter last year, the company posted $0.57 earnings per share. On average, analysts predict that Cenovus Energy will post $1.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.24 per share. This represents a $0.94 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, December 11th.
A number of other firms have also recently commented on CVE. Analysts at Global Hunter Securities cut their price target on shares of Cenovus Energy from $44.00 to $42.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Cenovus Energy to $39.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at TD Securities downgraded shares of Cenovus Energy from an “action buy list” rating to a “buy” rating in a research note to investors on Friday. They now have a $38.00 price target on the stock, down previously from $39.00. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $37.64.
Cenovus Energy Inc (NYSE:CVE) is an integrated oil company.
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