Cenovus Energy (TSE:CVE) PT Raised to C$31.50 at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target upped by Desjardins from C$29.50 to C$31.50 in a research note released on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. CIBC increased their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an outperform rating in a research note on Monday. Royal Bank of Canada increased their price objective on shares of Cenovus Energy from C$28.00 to C$32.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Scotiabank dropped their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. Finally, National Bankshares increased their price objective on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cenovus Energy presently has a consensus rating of Moderate Buy and an average target price of C$33.35.

Cenovus Energy Stock Performance

TSE:CVE opened at C$29.09 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64. The company has a market cap of C$54.40 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.09 and a beta of 2.78. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The firm’s 50 day moving average is C$26.28 and its two-hundred day moving average is C$24.49.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. The company had revenue of C$13.13 billion for the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same quarter last year, the firm posted $0.39 earnings per share. Analysts expect that Cenovus Energy will post 2.6887232 EPS for the current year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s payout ratio is 26.42%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In the last three months, insiders sold 87,000 shares of company stock valued at $2,414,507. Corporate insiders own 31.50% of the company’s stock.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.