Cenovus Energy Inc (CVE) Receives Average Rating of “Hold” from Analysts

Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has earned an average recommendation of “Hold” from the sixteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$15.23.

Several equities analysts have recently commented on the company. AltaCorp Capital raised Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, February 16th. National Bank Financial decreased their target price on Cenovus Energy from C$14.00 to C$13.50 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. TD Securities decreased their target price on Cenovus Energy from C$14.00 to C$12.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Eight Capital set a C$15.00 target price on Cenovus Energy and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, Citigroup upped their target price on Cenovus Energy from C$10.00 to C$13.00 in a research report on Monday, December 11th.

Cenovus Energy (TSE CVE) traded down C$0.01 during trading on Friday, hitting C$9.31. The stock had a trading volume of 6,360,486 shares, compared to its average volume of 4,515,440. Cenovus Energy has a 52 week low of C$8.89 and a 52 week high of C$17.94. The firm has a market capitalization of $11,450.00, a P/E ratio of 4.50 and a beta of 0.29.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, March 14th. Cenovus Energy’s payout ratio is presently 9.57%.

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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.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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