Shares of Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) have earned an average rating of “Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$16.21.
Several brokerages have issued reports on CVE. National Bank Financial upgraded Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating and upped their price objective for the company from C$12.00 to C$17.00 in a research note on Thursday, May 31st. Citigroup upped their price objective on Cenovus Energy from C$11.00 to C$15.00 in a research note on Wednesday, May 23rd. BMO Capital Markets upgraded Cenovus Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from C$15.00 to C$17.00 in a research note on Thursday, May 17th. Canaccord Genuity upped their price objective on Cenovus Energy from C$14.50 to C$16.00 in a research note on Monday, May 14th. Finally, Raymond James upgraded Cenovus Energy from an “underperform” rating to a “market perform” rating and upped their price objective for the company from C$10.00 to C$14.00 in a research note on Tuesday, April 24th.
Shares of Cenovus Energy opened at C$12.24 on Friday, Marketbeat Ratings reports. Cenovus Energy has a 1-year low of C$8.89 and a 1-year high of C$14.65.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Wednesday, April 25th. The company reported C($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.16) by C($0.45). Cenovus Energy had a negative net margin of 15.99% and a negative return on equity of 16.53%. The firm had revenue of C$4.70 billion for the quarter, compared to analyst estimates of C$4.89 billion.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 29th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, June 14th.
In related news, insider Alan Craig Reid bought 4,100 shares of the stock in a transaction dated Friday, June 15th. The stock was bought at an average cost of C$12.21 per share, with a total value of C$50,061.00.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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