Cenovus Energy Inc. (TSE:CVE) Receives Consensus Rating of “Moderate Buy” from Analysts

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is C$29.89.

Several research firms have issued reports on CVE. BMO Capital Markets decreased their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Royal Bank of Canada cut their price target on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Raymond James lifted their price objective on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Scotiabank raised Cenovus Energy to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, National Bankshares lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$28.00 to C$25.00 in a report on Friday, February 21st.

Cenovus Energy Stock Down 11.9 %

CVE opened at C$16.00 on Tuesday. The business has a 50 day moving average of C$20.18 and a 200-day moving average of C$21.58. The stock has a market capitalization of C$29.15 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. Cenovus Energy has a 1-year low of C$15.80 and a 1-year high of C$29.96.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 4.50%. Cenovus Energy’s payout ratio is presently 35.49%.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Karamjit Singh Sandhar acquired 5,000 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average price of C$20.05 per share, with a total value of C$100,250.00. Also, Senior Officer Jeffery George Lawson purchased 10,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of C$21.39 per share, with a total value of C$213,900.00. In the last 90 days, insiders acquired 26,054 shares of company stock worth $520,272. Insiders own 32.03% of the company’s stock.

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.