Cenovus Energy (CVE) Upgraded to Outperform at AltaCorp Capital

AltaCorp Capital upgraded shares of Cenovus Energy (TSE:CVE) (NYSE:CVE) from a sector perform rating to an outperform rating in a research report sent to investors on Friday morning.

A number of other brokerages also recently weighed in on CVE. National Bank Financial boosted their price target on shares of Cenovus Energy from C$12.50 to C$13.00 and gave the stock a sector perform rating in a report on Friday, October 20th. BMO Capital Markets boosted their price target on shares of Cenovus Energy from C$12.00 to C$14.00 in a report on Friday, November 3rd. TD Securities boosted their price target on shares of Cenovus Energy from C$12.50 to C$13.50 and gave the stock a hold rating in a report on Friday, November 3rd. Scotiabank downgraded shares of Cenovus Energy from an outperform rating to a sector perform rating and set a C$14.00 price target on the stock. in a report on Wednesday, November 15th. Finally, Citigroup boosted their price target on shares of Cenovus Energy from C$10.00 to C$13.00 in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Cenovus Energy presently has a consensus rating of Hold and a consensus price target of C$15.23.

Shares of Cenovus Energy (TSE CVE) traded up C$0.05 during trading hours on Friday, hitting C$9.41. 6,916,000 shares of the company were exchanged, compared to its average volume of 4,510,000. The stock has a market cap of $11,560.00, a P/E ratio of 4.50 and a beta of 0.29. Cenovus Energy has a 52 week low of C$8.89 and a 52 week high of C$18.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 9.57%.

In other Cenovus Energy news, Director Alex Pourbaix acquired 81,433 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were acquired at an average cost of C$12.28 per share, with a total value of C$999,997.24. Also, insider Ivor Melvin Ruste acquired 30,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of C$12.47 per share, for a total transaction of C$374,100.00.

TRADEMARK VIOLATION NOTICE: This report was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://stocknewstimes.com/2018/02/17/cenovus-energy-cve-upgraded-to-outperform-at-altacorp-capital.html.

About Cenovus Energy

Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply