Cenovus Energy (TSE:CVE) Price Target Raised to C$34.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective hoisted by Scotiabank from C$30.00 to C$34.00 in a research note released on Friday morning, Marketbeat Ratings reports. Scotiabank currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the company. National Bank Financial boosted their price target on Cenovus Energy from C$29.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lowered Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 target price on the stock. in a report on Tuesday, January 20th. Morgan Stanley cut their price target on Cenovus Energy from C$31.00 to C$29.00 in a research note on Friday, January 23rd. Desjardins boosted their price objective on shares of Cenovus Energy from C$33.00 to C$33.50 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, TD Securities raised their target price on shares of Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$31.50.

Cenovus Energy Stock Down 2.5%

Shares of TSE CVE opened at C$30.88 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. Cenovus Energy has a 52 week low of C$14.48 and a 52 week high of C$32.04. The firm has a 50-day moving average price of C$25.59 and a 200 day moving average price of C$24.36. The stock has a market capitalization of C$58.25 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 0.09 and a beta of 0.65.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a $0.20 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. Cenovus Energy’s dividend payout ratio is 43.93%.

Insider Buying and Selling at Cenovus Energy

In other news, Director Michael John Crothers acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average cost of C$24.23 per share, for a total transaction of C$48,460.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at C$193,840. This trade represents a 33.33% increase in their position. Insiders own 32.03% of the company’s stock.

Key Cenovus Energy News

Here are the key news stories impacting Cenovus Energy this week:

• Positive Sentiment: Q4 results showed record production and an earnings beat, reinforcing the company’s operational story after the MEG acquisition — a clear fundamental positive for future cash flow and shareholder returns. Cenovus reports production records, focuses on boosting operations after acquiring MEG
• Positive Sentiment: Multiple brokerages raised price targets and ratings today (TD to C$35, Desjardins to C$36, Scotiabank to C$34, Raymond James to C$33, RBC to C$32), signaling analyst confidence and implying mid‑single- to mid‑teens upside from current levels. BayStreet.CA analyst roundup
• Neutral Sentiment: Elevated trading volume and the stock sitting near its 1‑year high indicate active profit-taking and rotation; technicals (50/200-day averages both well below current price) support the view that recent strength may be consolidating rather than reversing.
• Negative Sentiment: BMO trimmed its price target (from C$38 to C$35) — still an outperform rating, but the cut is a relative negative among the otherwise upbeat analyst moves and could contribute to intraday selling pressure. BayStreet.CA analyst roundup

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.