Cenovus Energy (CVE) Price Target Raised to C$14.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective increased by National Bank Financial from C$13.00 to C$14.00 in a report issued on Tuesday. The brokerage currently has a sector perform rating on the stock.

Several other equities analysts have also issued reports on the company. Scotiabank lowered Cenovus Energy from an outperform rating to a sector perform rating and set a C$14.00 price target on the stock. in a research note on Wednesday, November 15th. AltaCorp Capital lowered Cenovus Energy from an outperform rating to a sector perform rating in a research note on Thursday, November 9th. CIBC increased their target price on Cenovus Energy from C$14.50 to C$16.00 in a research note on Tuesday, November 14th. Citigroup increased their target price on Cenovus Energy from C$10.00 to C$13.00 in a research note on Monday, December 11th. Finally, JPMorgan Chase & Co. increased their target price on Cenovus Energy from C$12.50 to C$14.00 in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of C$15.40.

Cenovus Energy (TSE:CVE) opened at C$13.69 on Tuesday. Cenovus Energy has a one year low of C$8.89 and a one year high of C$19.91. The stock has a market capitalization of $16,820.00, a price-to-earnings ratio of 4.79 and a beta of 0.26.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.05 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.46%. Cenovus Energy’s dividend payout ratio (DPR) is currently 6.99%.

In other Cenovus Energy news, Director Alex Pourbaix purchased 81,433 shares of the stock in a transaction on Tuesday, November 21st. The stock was bought at an average cost of C$12.28 per share, for a total transaction of C$999,997.24. Also, insider Ivor Melvin Ruste purchased 30,000 shares of the stock in a transaction on Monday, November 20th. The stock was acquired at an average price of C$12.47 per share, with a total value of C$374,100.00. Insiders acquired 153,633 shares of company stock valued at $1,967,303 over the last 90 days.

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