Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has been given an average rating of “Buy” by the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$17.57.

CVE has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a C$22.00 price target on shares of Cenovus Energy in a report on Wednesday, May 24th. CSFB reiterated an “outperform” rating and set a C$20.00 price target on shares of Cenovus Energy in a report on Friday, May 26th. BMO Capital Markets reiterated a “market perform” rating and set a C$13.00 price target on shares of Cenovus Energy in a report on Wednesday, June 21st. CIBC lowered their price target on Cenovus Energy from C$18.00 to C$13.00 in a report on Wednesday, June 21st. Finally, Desjardins lowered their price target on Cenovus Energy from C$20.00 to C$14.00 and set a “buy” rating for the company in a report on Wednesday, June 21st.

Shares of Cenovus Energy (CVE) traded up 2.17% during midday trading on Friday, hitting $9.41. 1,536,858 shares of the stock were exchanged. Cenovus Energy has a 1-year low of $8.89 and a 1-year high of $22.06. The firm has a 50-day moving average of $9.73 and a 200-day moving average of $12.96. The company has a market capitalization of $11.56 billion and a P/E ratio of 3.16.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, September 14th.

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In other news, Director Richard Joseph Marcogliese bought 8,800 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was bought at an average cost of C$8.56 per share, for a total transaction of C$75,328.00. Also, insider Ivor Melvin Ruste bought 10,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were purchased at an average price of C$9.16 per share, with a total value of C$91,600.00.

About Cenovus Energy

Cenovus Energy Inc develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada. Its Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segmentÂ’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.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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