TD Securities Cuts Cenovus Energy (TSE:CVE) Price Target to C$29.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by TD Securities from C$31.00 to C$29.00 in a research note released on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other research analysts have also weighed in on CVE. National Bankshares lowered their price objective on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Royal Bank of Canada decreased their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Jefferies Financial Group lowered their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Raymond James dropped their target price on Cenovus Energy from C$33.00 to C$32.00 in a report on Tuesday, October 15th. Finally, BMO Capital Markets lowered their price target on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy presently has an average rating of “Buy” and an average target price of C$31.50.

Cenovus Energy Stock Up 1.0 %

Shares of TSE:CVE opened at C$21.71 on Friday. The business has a fifty day moving average of C$22.71 and a two-hundred day moving average of C$24.60. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The stock has a market cap of C$40.38 billion, a P/E ratio of 8.65, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.32%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Geoffrey Murray acquired 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were purchased at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Jeffery George Lawson acquired 4,600 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of C$21.74 per share, with a total value of C$100,004.00. In the last ninety days, insiders have purchased 12,300 shares of company stock worth $273,236. 32.03% of the stock is currently owned by insiders.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.