Cenovus Energy (TSE:CVE) Price Target Raised to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target boosted by Royal Bank Of Canada from C$31.00 to C$32.00 in a report published on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on CVE. TD Securities lifted their price objective on Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a research note on Friday. National Bank Financial lifted their price target on Cenovus Energy from C$29.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Scotiabank boosted their price objective on Cenovus Energy from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Morgan Stanley lowered their target price on shares of Cenovus Energy from C$31.00 to C$29.00 in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. cut shares of Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 price target for the company. in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$31.50.

Cenovus Energy Stock Down 2.5%

Cenovus Energy stock opened at C$30.88 on Friday. Cenovus Energy has a 1-year low of C$14.48 and a 1-year high of C$32.04. The firm has a market capitalization of C$58.25 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.09 and a beta of 0.65. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. The firm has a 50 day simple moving average of C$25.59 and a 200 day simple moving average of C$24.36.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, December 15th. Cenovus Energy’s dividend payout ratio is presently 43.93%.

Insider Activity

In related news, Director Michael John Crothers purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of C$24.23 per share, for a total transaction of C$48,460.00. Following the purchase, the director directly owned 8,000 shares of the company’s stock, valued at approximately C$193,840. This represents a 33.33% increase in their position. 32.03% of the stock is currently owned by insiders.

More Cenovus Energy News

Here are the key news stories impacting Cenovus Energy this week:

• Positive Sentiment: Q4 results showed record production and an earnings beat, reinforcing the company’s operational story after the MEG acquisition — a clear fundamental positive for future cash flow and shareholder returns. Cenovus reports production records, focuses on boosting operations after acquiring MEG
• Positive Sentiment: Multiple brokerages raised price targets and ratings today (TD to C$35, Desjardins to C$36, Scotiabank to C$34, Raymond James to C$33, RBC to C$32), signaling analyst confidence and implying mid‑single- to mid‑teens upside from current levels. BayStreet.CA analyst roundup
• Neutral Sentiment: Elevated trading volume and the stock sitting near its 1‑year high indicate active profit-taking and rotation; technicals (50/200-day averages both well below current price) support the view that recent strength may be consolidating rather than reversing.
• Negative Sentiment: BMO trimmed its price target (from C$38 to C$35) — still an outperform rating, but the cut is a relative negative among the otherwise upbeat analyst moves and could contribute to intraday selling pressure. BayStreet.CA analyst roundup

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.