Cenovus Energy (CVE) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Cenovus Energy (TSE: CVE):

• 4/9/2024 – Cenovus Energy had its price target raised by analysts at Royal Bank of Canada from C$28.00 to C$32.00.
• 3/28/2024 – Cenovus Energy had its price target raised by analysts at BMO Capital Markets from C$29.00 to C$33.00.
• 3/22/2024 – Cenovus Energy had its price target raised by analysts at CIBC from C$30.00 to C$31.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – Cenovus Energy had its price target raised by analysts at Desjardins from C$28.00 to C$29.50. They now have a “buy” rating on the stock.
• 3/6/2024 – Cenovus Energy had its price target raised by analysts at Jefferies Financial Group Inc. from C$27.00 to C$28.00. They now have a “buy” rating on the stock.
• 2/16/2024 – Cenovus Energy had its price target raised by analysts at BMO Capital Markets from C$28.00 to C$29.00.

Cenovus Energy Stock Down 1.7 %

Cenovus Energy stock traded down C$0.50 during trading on Thursday, reaching C$29.31. 3,199,705 shares of the company’s stock were exchanged, compared to its average volume of 4,555,515. Cenovus Energy Inc. has a 52-week low of C$19.82 and a 52-week high of C$29.96. The firm has a market cap of C$54.81 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.09 and a beta of 2.79. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. The company’s 50-day moving average is C$24.61 and its two-hundred day moving average is C$24.33.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The firm had revenue of C$13.13 billion during the quarter, compared to analysts’ expectations of C$13.06 billion. During the same quarter in the prior year, the business earned $0.39 EPS. On average, analysts predict that Cenovus Energy Inc. will post 2.731203 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 26.42%.

Insider Activity at Cenovus Energy

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Insiders sold a total of 87,000 shares of company stock valued at $2,414,507 in the last quarter. Insiders own 31.50% of the company’s stock.

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.