Cenovus Energy Inc. (TSE:CVE) receives average PT of $34.08 from analysts

VaselineAugust 22, 2024

0 2 minutes read

Shares of Cenovus Energy Inc. (TSE:CVE – Get Your Free Report ) (NYSE:CVE) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have covered the stock in the last year is $34.08.

A number of research firms recently issued reports on CVE. Royal Bank of Canada boosted their price objective on Cenovus Energy from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Desjardins boosted their price objective on shares of Cenovus Energy from $31.50 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Scotiabank cut their price target on shares of Cenovus Energy from $35.00 to $34.00 in a research report on Friday, July 12th. National Bankshares upped their target price on shares of Cenovus Energy from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Raymond James set a $33.00 price target on shares of Cenovus Energy and gave the stock an “outperform” rating in a research note on Wednesday, May 29th.

Get the latest CVE report

Insider buying and selling at Cenovus Energy

Want more great investment ideas?

In other Cenovus Energy news, Director Michael John Crothers purchased 1,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was bought at an average cost of $26.37 per share, for a total transaction of $26,369.50. In other Cenovus Energy news, SVP Keith Chiasson sold 17,441 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $28.00, for a total transaction of $488,348.00. Also, Director Michael John Crothers purchased 1,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $26.37 per share, with a total value of $26,369.50. In the last quarter, insiders purchased 24,000 shares of company stock worth $611,795 and sold 683,996 shares worth $17,605,807. Corporate insiders own 31.70% of the company’s shares.

Cenovus Energy trades down 0.0%

Shares of CVE stock opened at $25.63 on Monday. The stock’s 50-day moving average is $26.49 and its 200-day moving average is $26.41. The company has a quick ratio of 1.00, a current ratio of 1.66, and a debt-to-equity ratio of 33.34. The firm has a market cap of $47.67 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 0.09 and a beta of 2.67. Cenovus Energy has a 12-month low of $19.82 and a 12-month high of $29.96.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, September 13. This represents a dividend of $0.72 on an annualized basis and a yield of 2.81%. Cenovus Energy’s dividend payout ratio is 28.69%.

About Cenovus Energy

(Get a free report

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 US Refining segments.