Cenovus Energy Inc. (TSE:CVE) Receives C$29.17 Consensus PT from Brokerages

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have earned an average recommendation of “Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$29.17.

A number of analysts have recently weighed in on the stock. Raymond James Financial raised shares of Cenovus Energy from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from C$30.00 to C$32.00 in a research report on Thursday, October 9th. Desjardins boosted their target price on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. cut their target price on shares of Cenovus Energy from C$32.00 to C$29.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Royal Bank Of Canada lifted their price target on Cenovus Energy from C$30.00 to C$32.00 in a research note on Monday, November 17th. Finally, National Bank Financial raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, August 22nd.

Cenovus Energy Price Performance

Shares of CVE stock opened at C$24.61 on Friday. The firm has a fifty day simple moving average of C$24.45 and a 200-day simple moving average of C$22.09. The company has a market capitalization of C$46.42 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.09 and a beta of 0.47. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$26.36. 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 (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Friday, October 31st. The company reported C$0.72 earnings per share for the quarter. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.67%. The company had revenue of C$13.20 billion during the quarter. Equities research analysts anticipate that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, December 15th. Cenovus Energy’s payout ratio is 43.93%.

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.