National Bankshares Raises Cenovus Energy (TSE:CVE) Price Target to C$38.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price boosted by National Bankshares from C$36.00 to C$38.00 in a report published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on CVE. Scotiabank decreased their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Raymond James set a C$33.00 price objective on Cenovus Energy and gave the company an outperform rating in a research note on Wednesday, May 29th. CIBC raised their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the stock an outperform rating in a research note on Monday, April 22nd. Jefferies Financial Group boosted their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the company a buy rating in a research note on Friday, April 12th. Finally, Desjardins raised their price objective on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of Buy and an average target price of C$34.08.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$24.80 on Friday. The stock has a market capitalization of C$46.38 billion, a PE ratio of 9.96, a PEG ratio of 0.09 and a beta of 2.77. The business’s 50 day simple moving average is C$26.83 and its 200 day simple moving average is C$26.02. The company has a debt-to-equity ratio of 33.03, a current ratio of 1.70 and a quick ratio of 1.00. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is 29.72%.

Insider Activity

In related news, Director Michael John Crothers acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of C$26.37 per share, with a total value of C$26,369.50. In related news, Director Michael John Crothers acquired 1,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average cost of C$26.37 per share, for a total transaction of C$26,369.50. Also, Senior Officer Rhona Marie Delfrari sold 9,027 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of C$26.23, for a total transaction of C$236,741.20. Over the last three months, insiders acquired 13,000 shares of company stock worth $321,710 and sold 864,176 shares worth $22,697,316. Corporate insiders own 31.50% 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.