Cenovus Energy (TSE:CVE) Price Target Cut to C$32.00 by Analysts at Raymond James

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target cut by Raymond James from C$33.00 to C$32.00 in a research report released on Tuesday, BayStreet.CA reports.

A number of other research firms also recently commented on CVE. Royal Bank of Canada cut their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. BMO Capital Markets cut their target price on shares of Cenovus Energy from C$33.00 to C$31.00 in a research report on Friday, October 4th. National Bankshares cut their target price on shares of Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Finally, Jefferies Financial Group cut their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$32.45.

Cenovus Energy Price Performance

Shares of TSE CVE opened at C$23.38 on Tuesday. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The firm has a market cap of C$43.49 billion, a P/E ratio of 9.31, a PEG ratio of 0.09 and a beta of 2.63. The company has a 50 day moving average of C$24.10 and a 200 day moving average of C$26.26. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The firm had revenue of C$14.89 billion during the quarter, compared to analysts’ expectations of C$13.44 billion. As a group, research analysts expect that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Buying and Selling

In other news, Senior Officer Jeffery George Lawson bought 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of C$21.92 per share, with a total value of C$197,280.00. In related news, Senior Officer Jonathan Michael Mckenzie purchased 100,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of C$22.25 per share, for a total transaction of C$2,225,000.00. Also, Senior Officer Jeffery George Lawson purchased 9,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of C$21.92 per share, for a total transaction of C$197,280.00. In the last quarter, insiders bought 152,200 shares of company stock valued at $3,459,477. Company insiders own 32.03% of the company’s stock.

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.