Cenovus Energy (TSE:CVE) Price Target Cut to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective trimmed by BMO Capital Markets from C$33.00 to C$31.00 in a report issued on Friday, BayStreet.CA reports.

CVE has been the topic of several other reports. Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from C$33.00 to C$29.00 in a report on Tuesday, September 17th. Scotiabank decreased their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. National Bankshares decreased their price objective on shares of Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Jefferies Financial Group decreased their price target on shares of Cenovus Energy from C$36.00 to C$33.00 and set a buy rating on the stock in a research note on Monday, September 16th. Finally, TD Securities raised shares of Cenovus Energy from a hold rating to a strong-buy rating in a research note on Thursday, October 3rd. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of C$32.77.

Cenovus Energy Stock Up 0.8 %

TSE:CVE opened at C$25.00 on Friday. The firm has a market capitalization of C$46.50 billion, a P/E ratio of 9.96, a PEG ratio of 0.09 and a beta of 2.67. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company’s fifty day moving average price is C$24.44 and its 200-day moving average price is C$26.42. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The firm had revenue of C$14.89 billion for the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. As a group, equities research analysts anticipate that Cenovus Energy will post 2.0660125 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Geoffrey Murray purchased 3,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was acquired at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. In other Cenovus Energy news, Senior Officer Geoffrey Murray acquired 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Also, Senior Officer Jonathan Michael Mckenzie acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of C$22.25 per share, with a total value of C$2,225,000.00. Insiders purchased a total of 152,200 shares of company stock worth $3,459,477 over the last three months. Insiders own 32.03% of the company’s stock.

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.