Cenovus Energy (TSE:CVE) PT Lowered to C$31.00 at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective reduced by National Bankshares from C$38.00 to C$31.00 in a research report report published on Friday morning, BayStreet.CA reports.

Other analysts have also issued reports about the company. Jefferies Financial Group lowered their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a buy rating for the company in a report on Monday, September 16th. Royal Bank of Canada lowered their price target on Cenovus Energy from C$33.00 to C$29.00 in a report on Tuesday, September 17th. Desjardins raised their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Finally, Scotiabank lowered their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy presently has an average rating of Buy and a consensus target price of C$33.00.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at C$22.49 on Friday. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The stock’s 50 day moving average price is C$24.84 and its 200 day moving average price is C$26.47. The firm has a market capitalization of C$41.83 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results 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). 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, sell-side analysts expect that Cenovus Energy will post 2.2599805 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Activity

In other news, Senior Officer Jeffery George Lawson acquired 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of C$27.21 per share, with a total value of C$95,235.00. In related news, Senior Officer Geoffrey Murray bought 3,200 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, September 17th. The stock was acquired at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Also, Senior Officer Jeffery George Lawson acquired 3,500 shares of Cenovus Energy stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of C$27.21 per share, with a total value of C$95,235.00. In the last quarter, insiders have purchased 148,200 shares of company stock valued at $3,369,477. Insiders own 31.71% 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.