Raymond James set a C$4.00 price objective on Cenovus Energy (TSE:CVE) (NYSE:CVE) in a research note released on Tuesday, BayStreet.CA reports. The firm currently has a market perform rating on the stock.
Several other brokerages have also recently issued reports on CVE. Stifel Firstegy cut Cenovus Energy from a buy rating to a hold rating in a report on Thursday, March 12th. Tudor Pickering & Holt set a C$14.00 price objective on Cenovus Energy and gave the stock a buy rating in a report on Wednesday, February 12th. National Bank Financial decreased their price objective on Cenovus Energy from C$16.00 to C$8.00 and set an outperform rating on the stock in a report on Tuesday, March 10th. Canaccord Genuity decreased their price objective on Cenovus Energy from C$14.00 to C$6.50 in a report on Tuesday, March 10th. Finally, TD Securities decreased their price objective on Cenovus Energy from C$16.50 to C$6.00 and set a buy rating on the stock in a report on Friday, March 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of C$9.82.
CVE stock opened at C$2.66 on Tuesday. Cenovus Energy has a 1-year low of C$2.06 and a 1-year high of C$14.31. The company has a debt-to-equity ratio of 44.87, a current ratio of 1.30 and a quick ratio of 0.67. The company has a market capitalization of $2.94 billion and a price-to-earnings ratio of 1.49. The business has a 50 day simple moving average of C$8.30 and a two-hundred day simple moving average of C$11.22.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Wednesday, February 12th. The company reported C($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.10 by C($0.23). The business had revenue of C$4.84 billion during the quarter, compared to analyst estimates of C$5.40 billion. Sell-side analysts anticipate that Cenovus Energy will post 0.1945374 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a yield of 9.47%. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.06. Cenovus Energy’s dividend payout ratio is presently 11.94%.
Cenovus Energy Company Profile
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 in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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