Cenovus Energy (TSE:CVE) Given New C$28.00 Price Target at BMO Capital Markets

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price trimmed by BMO Capital Markets from C$31.00 to C$28.00 in a research note released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also commented on CVE. Desjardins upped their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. TD Securities upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reduced their price objective on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. National Bankshares lowered their price objective on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Finally, Scotiabank lowered their price objective on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cenovus Energy has an average rating of “Buy” and a consensus target price of C$31.90.

Cenovus Energy Stock Performance

Shares of TSE CVE traded down C$0.50 during trading hours on Friday, reaching C$21.89. The stock had a trading volume of 3,967,939 shares, compared to its average volume of 5,314,653. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm has a market cap of C$40.72 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The firm has a 50-day moving average of C$23.53 and a 200-day moving average of C$25.88.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The firm 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%. Equities research analysts predict that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s payout ratio is presently 28.69%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of C$25.98 per share, with a total value of C$194,850.00. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of C$22.25 per share, for a total transaction of C$2,225,000.00. Also, Senior Officer Jeffery George Lawson acquired 7,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of C$25.98 per share, with a total value of C$194,850.00. Insiders have purchased 152,200 shares of company stock worth $3,459,477 over the last ninety days. 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.