Cenovus Energy Inc (CVE) Given Consensus Rating of “Buy” by Analysts

Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$15.38.

CVE has been the subject of several recent research reports. National Bank Financial lifted their target price on shares of Cenovus Energy from C$14.50 to C$17.50 in a research note on Monday, April 8th. GMP Securities raised their price objective on shares of Cenovus Energy from C$17.00 to C$17.50 in a research report on Thursday, April 25th. Raymond James raised their price objective on shares of Cenovus Energy from C$13.00 to C$14.00 in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Cenovus Energy from C$15.00 to C$16.00 in a research report on Thursday, April 25th. Finally, BMO Capital Markets set a C$16.00 price objective on shares of Cenovus Energy and gave the company an “outperform” rating in a research report on Friday, April 26th.

CVE opened at C$10.53 on Friday. Cenovus Energy has a fifty-two week low of C$8.74 and a fifty-two week high of C$14.84. The company has a debt-to-equity ratio of 56.55, a quick ratio of 0.65 and a current ratio of 1.10. The stock has a market cap of $12.73 billion and a P/E ratio of -6.79.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported C$0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.11). The company had revenue of C$5.20 billion for the quarter, compared to analyst estimates of C$5.01 billion. Equities research analysts predict that Cenovus Energy will post 0.8599999 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, June 13th. Cenovus Energy’s payout ratio is -12.89%.

In other news, Director Keith A.J. Macphail purchased 14,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average price of C$13.46 per share, for a total transaction of C$188,440.00. Following the purchase, the director now directly owns 172,000 shares in the company, valued at approximately C$2,315,120.

Cenovus Energy Company Profile

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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