Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price reduced by National Bank Financial from C$20.00 to C$14.50 in a report released on Monday morning. National Bank Financial currently has an outperform rating on the stock.
A number of other research analysts have also recently commented on CVE. Canaccord Genuity cut Cenovus Energy from a buy rating to a hold rating and lowered their target price for the company from C$18.00 to C$15.00 in a research note on Thursday, August 16th. JPMorgan Chase & Co. upgraded Cenovus Energy from a neutral rating to an outperform rating and raised their target price for the company from C$16.00 to C$17.00 in a research note on Monday, September 10th. Raymond James raised their target price on Cenovus Energy from C$16.00 to C$17.00 in a research note on Friday, October 5th. CIBC restated an outperform rating and issued a C$17.00 target price on shares of Cenovus Energy in a research note on Friday, October 5th. Finally, Morgan Stanley lowered their price objective on Cenovus Energy from C$18.00 to C$17.00 in a research note on Sunday, October 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of C$15.54.
Shares of CVE stock opened at C$10.52 on Monday. Cenovus Energy has a fifty-two week low of C$9.02 and a fifty-two week high of C$14.84. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 52.75.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Wednesday, October 31st. The company reported C($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of C$0.22 by C($0.42). The firm had revenue of C$6.14 billion during the quarter, compared to the consensus estimate of C$5.77 billion. As a group, research analysts anticipate that Cenovus Energy will post 0.890000026279528 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, December 13th. Cenovus Energy’s dividend payout ratio is currently -35.46%.
In other news, insider Jonathan Michael Mckenzie acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was bought at an average price of C$10.23 per share, with a total value of C$255,750.00. Also, Director Richard Joseph Marcogliese acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was purchased at an average cost of C$7.10 per share, with a total value of C$35,500.00. Insiders bought 32,121 shares of company stock valued at $311,251 in the last 90 days.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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