Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price cut by National Bank Financial from C$14.00 to C$13.50 in a report issued on Friday morning. They currently have a sector perform rating on the stock. National Bank Financial also issued estimates for Cenovus Energy’s FY2019 earnings at $0.33 EPS.
A number of other brokerages have also recently issued reports on CVE. BMO Capital Markets upped their target price on shares of Cenovus Energy from C$12.00 to C$14.00 in a report on Friday, November 3rd. TD Securities upped their target price on shares of Cenovus Energy from C$12.50 to C$13.50 and gave the company a hold rating in a report on Friday, November 3rd. AltaCorp Capital cut shares of Cenovus Energy from an outperform rating to a sector perform rating in a report on Thursday, November 9th. Scotiabank cut shares of Cenovus Energy from an outperform rating to a sector perform rating and set a C$14.00 target price on the stock. in a report on Wednesday, November 15th. Finally, Citigroup upped their target price on shares of Cenovus Energy from C$10.00 to C$13.00 in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of C$15.23.
Shares of Cenovus Energy (TSE CVE) opened at C$9.41 on Friday. The stock has a market cap of $11,560.00, a PE ratio of 4.50 and a beta of 0.29. Cenovus Energy has a fifty-two week low of C$8.89 and a fifty-two week high of C$18.85.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.13%. Cenovus Energy’s dividend payout ratio (DPR) is currently 9.57%.
In related news, Director Alex Pourbaix purchased 81,433 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average price of C$12.28 per share, for a total transaction of C$999,997.24.
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About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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