Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective decreased by National Bank Financial from C$14.00 to C$13.50 in a report issued on Friday. National Bank Financial currently has a sector perform rating on the stock. National Bank Financial also issued estimates for Cenovus Energy’s FY2019 earnings at $0.33 EPS.
Several other equities analysts have also commented on the stock. Scotiabank lowered shares of Cenovus Energy from an outperform rating to a sector perform rating and set a C$14.00 target price on the stock. in a report on Wednesday, November 15th. AltaCorp Capital lowered shares of Cenovus Energy from an outperform rating to a sector perform rating in a report on Thursday, November 9th. Citigroup raised their target price on shares of Cenovus Energy from C$10.00 to C$13.00 in a report on Monday, December 11th. CIBC raised their target price on shares of Cenovus Energy from C$14.50 to C$16.00 in a report on Tuesday, November 14th. Finally, Eight Capital set a C$15.00 target price on shares of Cenovus Energy and gave the company a neutral rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of C$15.23.
Cenovus Energy (TSE CVE) traded up C$0.05 during mid-day trading on Friday, reaching C$9.41. 6,916,000 shares of the company’s stock traded hands, compared to its average volume of 4,510,000. Cenovus Energy has a 52-week low of C$8.89 and a 52-week high of C$18.85. The company has a market cap of $11,560.00, a price-to-earnings ratio of 4.50 and a beta of 0.29.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 9.57%.
In related news, insider Ivor Melvin Ruste purchased 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of C$12.47 per share, with a total value of C$374,100.00. Also, Director Alex Pourbaix purchased 81,433 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were bought at an average cost of C$12.28 per share, for a total transaction of C$999,997.24.
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Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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