Cenovus Energy Inc (CVE) Given Consensus Recommendation of “Hold” by Brokerages
Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has been given an average rating of “Hold” by the fifteen analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$15.36.
CVE has been the topic of a number of recent analyst reports. National Bank Financial lifted their price target on Cenovus Energy from C$12.50 to C$13.00 and gave the company a “sector perform” rating in a report on Friday, October 20th. BMO Capital Markets lifted their price target on Cenovus Energy from C$12.00 to C$14.00 in a report on Friday, November 3rd. Canaccord Genuity lifted their price target on Cenovus Energy from C$14.50 to C$15.00 in a report on Tuesday, September 26th. TD Securities lifted their price target on Cenovus Energy from C$12.50 to C$13.50 and gave the company a “hold” rating in a report on Friday, November 3rd. Finally, AltaCorp Capital cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 9th.
Shares of Cenovus Energy (TSE:CVE) opened at C$11.58 on Friday. The firm has a market capitalization of $13,720.00, a P/E ratio of 4.05 and a beta of 0.26. Cenovus Energy has a twelve month low of C$8.89 and a twelve month high of C$20.87.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.20 annualized dividend and a yield of 1.73%. Cenovus Energy’s payout ratio is 6.99%.
In other news, Director Patrick Darold Daniel bought 35,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average price of C$13.97 per share, with a total value of C$488,950.00. Also, Director Alex Pourbaix purchased 81,433 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was bought at an average cost of C$12.28 per share, for a total transaction of C$999,997.24. In the last three months, insiders have purchased 153,633 shares of company stock worth $1,967,303.
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About Cenovus Energy
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