Cenovus Energy (TSE:CVE) Upgraded to Strong-Buy by TD Securities

TD Securities upgraded shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday, Zacks.com reports.

Several other research analysts also recently commented on the company. National Bankshares lowered their target price on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Jefferies Financial Group lowered their target price on Cenovus Energy from C$36.00 to C$33.00 and set a buy rating for the company in a research note on Monday, September 16th. Scotiabank lowered their target price on Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Desjardins upped their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada lowered their price objective on Cenovus Energy from C$33.00 to C$29.00 in a research note on Tuesday, September 17th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of C$32.77.

Cenovus Energy Trading Up 2.6 %

Shares of Cenovus Energy stock opened at C$24.80 on Thursday. The firm has a 50-day moving average of C$24.48 and a 200-day moving average of C$26.43. The stock has a market cap of C$46.13 billion, a PE ratio of 9.88, a PEG ratio of 0.09 and a beta of 2.67. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). The company had revenue of C$14.89 billion during the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. As a group, sell-side analysts forecast that Cenovus Energy will post 2.0660125 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s payout ratio is 28.69%.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,000 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,000 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Insiders have acquired 152,200 shares of company stock worth $3,459,477 in the last ninety days. Company insiders own 32.03% 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.