Cenovus Energy Inc (CVE) Receives Average Recommendation of “Hold” from Analysts
Shares of Cenovus Energy Inc (TSE:CVE) have been given a consensus rating of “Buy” by the fifteen ratings firms that are presently covering the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$21.07.
Several brokerages have recently weighed in on CVE. Scotiabank restated an “outperform” rating and issued a C$20.00 price objective on shares of Cenovus Energy in a report on Friday, July 29th. TD Securities reiterated a “buy” rating and set a C$21.00 price target on shares of Cenovus Energy in a report on Friday, July 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a C$23.00 price target on shares of Cenovus Energy in a report on Monday, June 20th. Desjardins set a C$24.00 price target on Cenovus Energy in a report on Tuesday, June 28th. Finally, Raymond James Financial Inc. lifted their price target on Cenovus Energy from C$19.00 to C$21.00 in a report on Wednesday.
Shares of Cenovus Energy (TSE:CVE) traded up 1.08% during trading on Thursday, hitting $20.51. The company had a trading volume of 1,280,825 shares. The firm has a 50 day moving average of $18.80 and a 200 day moving average of $18.65. The stock has a market cap of $17.09 billion and a PE ratio of 22.17. Cenovus Energy has a 12-month low of $12.74 and a 12-month high of $21.81.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.05 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.99%.
About Cenovus Energy
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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