Cenovus Energy Inc (CVE) Receives C$15.23 Consensus Target Price from Analysts

Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has been given an average rating of “Hold” by the sixteen research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$15.23.

Several equities research analysts recently issued reports on the company. CIBC upped their price target on Cenovus Energy from C$14.50 to C$16.00 in a report on Tuesday, November 14th. Citigroup upped their price target on Cenovus Energy from C$10.00 to C$13.00 in a report on Monday, December 11th. National Bank Financial boosted their price objective on Cenovus Energy from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 9th. AltaCorp Capital cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 9th. Finally, Scotiabank cut Cenovus Energy from an “outperform” rating to a “sector perform” rating and set a C$14.00 price target on the stock. in a research report on Wednesday, November 15th.

Cenovus Energy (TSE:CVE) traded up C$0.12 during midday trading on Friday, hitting C$9.53. The stock had a trading volume of 2,234,776 shares, compared to its average volume of 4,432,837. The company has a market capitalization of $11,560.00, a P/E ratio of 4.53 and a beta of 0.29. Cenovus Energy has a 52-week low of C$8.89 and a 52-week high of C$18.56.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, March 14th. Cenovus Energy’s payout ratio is presently 9.57%.

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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.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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