Cenovus Energy (TSE:CVE) Price Target Increased to C$38.00 by Analysts at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target increased by National Bankshares from C$29.00 to C$38.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on CVE. Royal Bank of Canada raised their target price on shares of Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. BMO Capital Markets raised their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. Desjardins raised their target price on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the company a buy rating in a research note on Friday, March 22nd. CIBC raised their target price on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$32.88.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$28.69 on Friday. The company’s fifty day moving average price is C$25.75 and its 200-day moving average price is C$24.43. The stock has a market cap of C$53.65 billion, a PE ratio of 13.53, 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. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping the consensus estimate 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 business had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts expect that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s payout ratio is 26.42%.

Insider Buying and Selling

In related news, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. In related news, 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 value of C$649,657.50. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Over the last quarter, insiders have sold 87,000 shares of company stock worth $2,414,507. 31.50% of the stock is owned by insiders.

About Cenovus Energy

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.