Cenovus Energy (CVE) Given a C$15.00 Price Target at Eight Capital

Eight Capital set a C$15.00 price objective on Cenovus Energy (TSE:CVE) (NYSE:CVE) in a research note released on Thursday. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on CVE. AltaCorp Capital cut Cenovus Energy from an outperform rating to a sector perform rating in a research note on Thursday, November 9th. CIBC increased their price target on Cenovus Energy from C$14.50 to C$16.00 in a research note on Tuesday, November 14th. TD Securities increased their price target on Cenovus Energy from C$12.50 to C$13.50 and gave the company a hold rating in a research note on Friday, November 3rd. BMO Capital Markets increased their price target on Cenovus Energy from C$12.00 to C$14.00 in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. increased their price target on Cenovus Energy from C$12.50 to C$14.00 in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of C$15.40.

Cenovus Energy (CVE) traded down C$0.09 on Thursday, reaching C$13.60. The company had a trading volume of 4,372,908 shares, compared to its average volume of 3,856,146. Cenovus Energy has a twelve month low of C$8.89 and a twelve month high of C$19.73. The company has a market cap of $16,710.00, a PE ratio of 4.76 and a beta of 0.26.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, December 14th. Cenovus Energy’s payout ratio is 6.99%.

In other news, insider Ivor Melvin Ruste acquired 30,000 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average price of C$12.47 per share, for a total transaction of C$374,100.00. Also, Director Rhonda Ivy Zygocki acquired 7,200 shares of the stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of C$14.48 per share, for a total transaction of C$104,256.00. Insiders have acquired a total of 153,633 shares of company stock worth $1,967,303 in the last quarter.

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