Cenovus Energy Inc (CVE) Receives C$15.36 Consensus Price Target from Analysts

Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has been assigned a consensus rating of “Buy” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$15.36.

Several equities research analysts recently issued reports on the company. GMP Securities boosted their price target on Cenovus Energy from C$17.00 to C$17.50 in a research note on Thursday, April 25th. Raymond James boosted their price target on Cenovus Energy from C$13.00 to C$14.00 in a research note on Thursday, April 25th. JPMorgan Chase & Co. boosted their price target on Cenovus Energy from C$15.00 to C$16.00 in a research note on Thursday, April 25th. National Bank Financial boosted their price target on Cenovus Energy from C$14.50 to C$17.50 in a research note on Monday, April 8th. Finally, BMO Capital Markets set a C$16.00 price target on Cenovus Energy and gave the company an “outperform” rating in a research note on Friday, April 26th.

In other news, Director Keith A.J. Macphail acquired 14,000 shares of the stock in a transaction on Friday, April 26th. The stock was acquired at an average cost of C$13.46 per share, for a total transaction of C$188,440.00. Following the completion of the transaction, the director now directly owns 172,000 shares in the company, valued at C$2,315,120.

Shares of TSE:CVE opened at C$11.86 on Monday. The company has a debt-to-equity ratio of 56.55, a current ratio of 1.10 and a quick ratio of 0.65. The company has a market cap of $14.57 billion and a PE ratio of -7.65. Cenovus Energy has a 12-month low of C$8.74 and a 12-month high of C$14.84.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Wednesday, February 13th. The company reported C($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.21) by C($1.15). The company had revenue of C$4.55 billion during the quarter, compared to analyst estimates of C$5.03 billion. As a group, sell-side analysts predict that Cenovus Energy will post 0.860000013537697 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.20 annualized dividend and a yield of 1.69%. Cenovus Energy’s dividend payout ratio is currently -12.89%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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