Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by Royal Bank of Canada from C$15.00 to C$14.00 in a research report report published on Thursday, BayStreet.CA reports.
A number of other research analysts have also weighed in on the stock. GMP Securities reissued a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. National Bank Financial lifted their price objective on shares of Vermilion Energy from C$35.00 to C$36.00 and gave the stock an outperform rating in a research note on Tuesday, July 16th. Cormark dropped their price objective on shares of Prairie Provident Resources from C$0.45 to C$0.40 in a research note on Tuesday, April 23rd. BMO Capital Markets reaffirmed a hold rating and set a $9.50 price objective on shares of Vicon Industries in a research note on Friday, June 14th. Finally, UBS Group raised shares of to a neutral rating and lifted their price objective for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and an average target price of C$14.50.
CVE stock opened at C$12.41 on Thursday. The firm has a fifty day simple moving average of C$11.56. Cenovus Energy has a fifty-two week low of C$8.74 and a fifty-two week high of C$14.26. The company has a debt-to-equity ratio of 56.55, a quick ratio of 0.65 and a current ratio of 1.10. The stock has a market capitalization of $15.25 billion and a price-to-earnings ratio of -8.00.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Wednesday, April 24th. The company reported C$0.06 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.11). The company had revenue of C$5.20 billion for the quarter, compared to analysts’ expectations of C$5.01 billion. As a group, research analysts anticipate that Cenovus Energy will post 0.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, June 13th. Cenovus Energy’s payout ratio is presently -12.89%.
In other Cenovus Energy news, Director Keith A.J. Macphail bought 14,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were acquired at an average price of C$13.46 per share, with a total value of C$188,440.00. Following the transaction, the director now owns 172,000 shares of the company’s stock, valued at C$2,315,120.
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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