National Bankshares Cuts Cenovus Energy (TSE:CVE) Price Target to C$29.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective trimmed by National Bankshares from C$31.00 to C$29.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

CVE has been the subject of several other reports. TD Securities reduced their price objective on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, December 13th. BMO Capital Markets lowered their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Raymond James boosted their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Jefferies Financial Group dropped their price target on 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. Finally, Royal Bank of Canada reduced their price objective on 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. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$31.30.

Cenovus Energy Stock Down 1.2 %

Cenovus Energy stock opened at C$20.66 on Thursday. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The stock has a fifty day simple moving average of C$22.44 and a two-hundred day simple moving average of C$24.42. 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 firm has a market cap of C$38.43 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 3.48%. Cenovus Energy’s dividend payout ratio (DPR) is currently 28.69%.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson purchased 4,600 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. Insiders have acquired a total of 9,600 shares of company stock worth $211,699 in the last three months. Insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

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.