Recent Investment Analysts’ Ratings Updates for Cenovus Energy (CVE)

Cenovus Energy (TSE: CVE) recently received a number of ratings updates from brokerages and research firms:

• 5/2/2024 – Cenovus Energy had its price target raised by analysts at Royal Bank of Canada from C$32.00 to C$33.00. They now have an “outperform” rating on the stock.
• 5/2/2024 – Cenovus Energy had its price target raised by analysts at TD Securities from C$30.00 to C$32.00. They now have a “buy” rating on the stock.
• 4/23/2024 – Cenovus Energy had its price target raised by analysts at Desjardins from C$29.50 to C$31.50. They now have a “buy” rating on the stock.
• 4/22/2024 – Cenovus Energy had its price target raised by analysts at CIBC from C$31.00 to C$35.00. They now have an “outperform” rating on the stock.
• 4/19/2024 – Cenovus Energy had its price target raised by analysts at National Bankshares, Inc. from C$29.00 to C$38.00. They now have an “outperform” rating on the stock.
• 4/12/2024 – Cenovus Energy had its price target raised by analysts at Jefferies Financial Group Inc. from C$28.00 to C$36.00. They now have a “buy” rating on the stock.
• 4/9/2024 – Cenovus Energy had its price target raised by analysts at Royal Bank of Canada from C$28.00 to C$32.00.
• 3/28/2024 – Cenovus Energy had its price target raised by analysts at BMO Capital Markets from C$29.00 to C$33.00.
• 3/22/2024 – Cenovus Energy had its price target raised by analysts at CIBC from C$30.00 to C$31.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – Cenovus Energy had its price target raised by analysts at Desjardins from C$28.00 to C$29.50. They now have a “buy” rating on the stock.
• 3/6/2024 – Cenovus Energy had its price target raised by analysts at Jefferies Financial Group Inc. from C$27.00 to C$28.00. They now have a “buy” rating on the stock.

Cenovus Energy Stock Performance

Shares of CVE traded up C$0.18 during trading hours on Thursday, hitting C$28.17. The company had a trading volume of 3,644,282 shares, compared to its average volume of 4,626,589. Cenovus Energy Inc. has a 12 month low of C$19.82 and a 12 month high of C$29.96. The firm has a market cap of C$52.68 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.09 and a beta of 2.78. The business has a fifty day moving average of C$26.71 and a 200-day moving average of C$24.50. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The business had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. During the same period last year, the firm earned $0.39 earnings per share. Equities analysts anticipate that Cenovus Energy Inc. will post 2.6887232 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

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 paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.56%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, June 14th. Cenovus Energy’s dividend payout ratio is presently 26.42%.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other news, Senior Officer Gary Frederick Molnar sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of C$29.06, for a total value of C$697,332.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Insiders have sold 87,000 shares of company stock worth $2,414,507 over the last ninety days. Corporate insiders own 31.50% of the company’s stock.

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.