TD Securities Cuts Cenovus Energy (TSE:CVE) Price Target to C$28.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by TD Securities from C$29.00 to C$28.00 in a research report sent to investors on Monday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Raymond James lifted their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. National Bank Financial cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. BMO Capital Markets cut their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Jefferies Financial Group cut their price objective on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Finally, National Bankshares cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$28.00 to C$25.00 in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$29.89.

Cenovus Energy Trading Down 0.9 %

Shares of Cenovus Energy stock opened at C$19.95 on Monday. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00. The firm has a fifty day moving average price of C$21.48 and a 200 day moving average price of C$22.67. Cenovus Energy has a 1 year low of C$19.80 and a 1 year high of C$29.96. The stock has a market cap of C$36.34 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.18 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.61%. Cenovus Energy’s dividend payout ratio (DPR) is 35.49%.

Insider Activity

In other Cenovus Energy news, insider Cenovus Energy Inc. purchased 44,700 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were purchased at an average cost of C$22.07 per share, for a total transaction of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 4,600 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of C$21.74 per share, for a total transaction of C$100,004.00. Insiders have purchased a total of 70,300 shares of company stock worth $1,527,610 over the last 90 days. 32.03% of the stock is currently owned by company insiders.

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.