Analysts Set Cenovus Energy Inc (TSE:CVE) PT at $17.93

Shares of Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) have been assigned a consensus rating of “Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$17.93.

A number of research analysts have recently weighed in on CVE shares. National Bank Financial raised their price objective on Cenovus Energy to C$11.50 in a research report on Friday, July 28th. Scotiabank cut their price objective on Cenovus Energy from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a C$22.00 price target on shares of Cenovus Energy in a report on Wednesday, May 24th. Desjardins lowered their price target on shares of Cenovus Energy from C$24.00 to C$20.00 in a report on Tuesday, July 4th. Finally, CSFB reaffirmed an “outperform” rating and issued a C$20.00 price target on shares of Cenovus Energy in a report on Friday, May 26th.

In other news, Director Richard Joseph Marcogliese acquired 8,800 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was acquired at an average price of C$8.56 per share, with a total value of C$75,328.00. Also, Director Ian William Delaney acquired 25,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of C$13.44 per share, with a total value of C$336,000.00. In the last three months, insiders acquired 68,800 shares of company stock valued at $838,928.

Cenovus Energy (TSE CVE) traded down 0.30% during midday trading on Tuesday, reaching $10.13. The company’s stock had a trading volume of 1,012,125 shares. The firm has a market cap of $12.45 billion and a P/E ratio of 3.40. Cenovus Energy has a 52-week low of $8.89 and a 52-week high of $22.06. The firm has a 50 day moving average of $9.69 and a 200 day moving average of $13.64.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, September 14th.

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About Cenovus Energy

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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