Cenovus Energy Inc (CVE) Receives Average Rating of “Hold” from Brokerages

Shares of Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$15.40.

CVE has been the subject of a number of research analyst reports. Scotiabank cut Cenovus Energy from an “outperform” rating to a “sector perform” rating and set a C$14.00 target price for the company. in a research note on Wednesday, November 15th. AltaCorp Capital cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 9th. Citigroup raised their target price on Cenovus Energy from C$10.00 to C$13.00 in a research note on Monday, December 11th. CIBC raised their target price on Cenovus Energy from C$14.50 to C$16.00 in a research note on Tuesday, November 14th. Finally, National Bank Financial raised their target price on Cenovus Energy from C$12.50 to C$13.00 and gave the company a “sector perform” rating in a research note on Friday, October 20th.

Shares of Cenovus Energy (CVE) opened at C$12.95 on Tuesday. Cenovus Energy has a fifty-two week low of C$8.89 and a fifty-two week high of C$19.07. The firm has a market capitalization of $15,910.00, a P/E ratio of 4.53 and a beta of 0.26.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, November 2nd. The company reported C$0.23 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.09 by C$0.14. Cenovus Energy had a return on equity of 5.90% and a net margin of 6.57%.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, December 14th. Cenovus Energy’s payout ratio is 6.99%.

In other Cenovus Energy news, Director Rhonda Ivy Zygocki bought 7,200 shares of Cenovus Energy stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of C$14.48 per share, with a total value of C$104,256.00. Also, Director Alex Pourbaix bought 81,433 shares of Cenovus Energy stock in a transaction on Tuesday, November 21st. The stock was acquired at an average cost of C$12.28 per share, with a total value of C$999,997.24. Insiders have acquired 153,633 shares of company stock valued at $1,967,303 in the last quarter.

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About Cenovus Energy

Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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