Raymond James Financial Inc. Increases Cenovus Energy Inc (CVE) Price Target to C$21.00
Cenovus Energy Inc (TSE:CVE) had its target price hoisted by analysts at Raymond James Financial Inc. from C$19.00 to C$21.00 in a research report issued on Wednesday, StockTargetPrices.com reports. Raymond James Financial Inc.’s target price suggests a potential upside of 2.94% from the stock’s previous close.
Several other research analysts have also commented on the company. TD Securities lowered Cenovus Energy from a “buy” rating to a “hold” rating and set a C$21.00 price target for the company. in a research report on Wednesday, August 10th. Scotiabank reissued an “outperform” rating and issued a C$20.00 price target on shares of Cenovus Energy in a research report on Friday, July 29th. JPMorgan Chase & Co. boosted their price target on Cenovus Energy from C$18.00 to C$19.00 in a research report on Monday, July 11th. Desjardins set a C$24.00 price target on Cenovus Energy in a research report on Tuesday, June 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a C$23.00 price target on shares of Cenovus Energy in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of C$20.73.
Shares of Cenovus Energy (TSE:CVE) remained flat at $20.40 on Wednesday. The stock had a trading volume of 1,552,968 shares. Cenovus Energy has a 52-week low of $12.74 and a 52-week high of $21.81. The firm has a market cap of $17.00 billion and a PE ratio of 22.05. The stock has a 50-day moving average price of $18.77 and a 200 day moving average price of $18.64.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, September 13th.
Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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