Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has received an average rating of “Hold” from the sixteen analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$15.23.
CVE has been the topic of a number of research reports. Citigroup boosted their price objective on Cenovus Energy from C$10.00 to C$13.00 in a research report on Monday, December 11th. TD Securities boosted their price objective on Cenovus Energy from C$13.50 to C$14.00 and gave the stock a “hold” rating in a research report on Friday, December 15th. National Bank Financial boosted their price objective on Cenovus Energy from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 9th. Eight Capital set a C$15.00 price objective on Cenovus Energy and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, AltaCorp Capital upgraded Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, February 16th.
In related news, insider Keith Chiasson purchased 2,635 shares of Cenovus Energy stock in a transaction on Monday, March 5th. The shares were purchased at an average price of C$9.60 per share, for a total transaction of C$25,296.00.
Shares of Cenovus Energy (TSE CVE) traded up C$0.49 during mid-day trading on Wednesday, reaching C$11.07. The company had a trading volume of 9,773,200 shares, compared to its average volume of 4,529,396. The company has a market cap of $13,000.00, a price-to-earnings ratio of 5.30 and a beta of 0.47. Cenovus Energy has a twelve month low of C$8.89 and a twelve month high of C$17.81.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.05 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.81%. Cenovus Energy’s dividend payout ratio (DPR) is presently 9.57%.
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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