Cenovus Energy Inc (TSE:CVE) Receives Average Rating of “Buy” from Analysts

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Shares of Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) have earned an average rating of “Buy” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$15.07.

CVE has been the topic of a number of recent analyst reports. Morgan Stanley cut shares of Cenovus Energy from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 23rd. CIBC dropped their price target on shares of Cenovus Energy from C$16.50 to C$16.00 in a research report on Tuesday, October 15th. AltaCorp Capital raised shares of Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 31st. Tudor Pickering & Holt restated a “buy” rating on shares of Cenovus Energy in a report on Thursday, October 3rd. Finally, CSFB decreased their price objective on shares of Cenovus Energy from C$17.00 to C$16.00 in a report on Thursday, August 29th.

TSE CVE traded up C$0.26 on Friday, reaching C$11.61. 1,907,813 shares of the company were exchanged, compared to its average volume of 3,385,277. The company has a current ratio of 1.12, a quick ratio of 0.60 and a debt-to-equity ratio of 46.38. The business’s fifty day moving average price is C$11.74 and its 200 day moving average price is C$11.72. The stock has a market capitalization of $13.95 billion and a P/E ratio of 19.93. Cenovus Energy has a fifty-two week low of C$8.74 and a fifty-two week high of C$14.31.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 2.15%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, December 12th. Cenovus Energy’s dividend payout ratio (DPR) is 34.19%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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