Cenovus Energy (TSE:CVE) Price Target Increased to C$31.50 by Analysts at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target upped by Desjardins from C$29.50 to C$31.50 in a research report released on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group lifted their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a buy rating in a report on Friday, April 12th. CIBC upped their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the company an outperform rating in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Royal Bank of Canada upped their target price on shares of Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. Finally, National Bankshares increased their price target on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of C$33.35.

Cenovus Energy Price Performance

Shares of CVE stock opened at C$29.06 on Tuesday. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The company has a market capitalization of C$54.34 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. The firm has a fifty day simple moving average of C$26.03 and a 200-day simple moving average of C$24.43.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The company had revenue of C$13.13 billion during the quarter, compared to analysts’ expectations of C$13.06 billion. During the same period in the prior year, the company posted $0.39 EPS. Equities research analysts anticipate that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a $0.14 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.93%. Cenovus Energy’s payout ratio is currently 26.42%.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other news, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was purchased at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In the last ninety days, insiders have sold 87,000 shares of company stock worth $2,414,507. 31.50% of the stock is currently owned by company insiders.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.