BMO Capital Markets Cuts Cenovus Energy (TSE:CVE) Price Target to C$25.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by BMO Capital Markets from C$28.00 to C$25.00 in a research note issued to investors on Friday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the stock. TD Securities dropped their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group decreased their price target on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Raymond James upped their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday. Royal Bank of Canada lowered their target price on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, National Bankshares dropped their price objective on shares of Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy presently has an average rating of “Buy” and a consensus target price of C$31.50.

Cenovus Energy Stock Up 1.0 %

TSE:CVE opened at C$21.71 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The company’s 50 day moving average is C$22.71 and its two-hundred day moving average is C$24.60. The company has a market cap of C$40.38 billion, a PE ratio of 8.65, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96.

Cenovus Energy Dividend Announcement

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

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 4,600 shares of the 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. Also, Senior Officer Geoffrey Murray purchased 3,200 shares of Cenovus Energy stock in a transaction on Tuesday, September 17th. The stock was bought at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. In the last 90 days, insiders have bought 12,300 shares of company stock worth $273,236. 32.03% of the stock is currently owned by company 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.