Weekly Investment Analysts’ Ratings Changes for Cenovus Energy (CVE)

Several brokerages have updated their recommendations and price targets on shares of Cenovus Energy (TSE: CVE) in the last few weeks:

• 12/20/2024 – Cenovus Energy had its price target lowered by analysts at Jefferies Financial Group Inc. from C$33.00 to C$32.00. They now have a “buy” rating on the stock.
• 12/19/2024 – Cenovus Energy had its price target lowered by analysts at National Bankshares, Inc. from C$31.00 to C$29.00. They now have an “outperform” rating on the stock.
• 12/13/2024 – Cenovus Energy had its price target lowered by analysts at TD Securities from C$31.00 to C$29.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Cenovus Energy had its price target lowered by analysts at BMO Capital Markets from C$28.00 to C$25.00.
• 12/13/2024 – Cenovus Energy had its price target raised by analysts at Raymond James from C$32.00 to C$33.00.
• 11/1/2024 – Cenovus Energy had its price target lowered by analysts at Royal Bank of Canada from C$29.00 to C$28.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Cenovus Energy had its price target lowered by analysts at BMO Capital Markets from C$31.00 to C$28.00. They now have an “outperform” rating on the stock.

Cenovus Energy Stock Performance

Shares of TSE CVE traded up C$0.02 during midday trading on Wednesday, reaching C$21.11. 1,572,299 shares of the company were exchanged, compared to its average volume of 5,332,735. The stock has a fifty day simple moving average of C$22.24 and a 200 day simple moving average of C$24.28. 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 stock has a market cap of C$39.26 billion, a P/E ratio of 8.41, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Buying and Selling

In related news, Senior Officer Jeffery George Lawson purchased 4,600 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of C$21.74 per share, for a total transaction of C$100,004.00. Insiders bought 9,600 shares of company stock valued at $211,699 over the last ninety days. Corporate insiders own 32.03% of the company’s stock.

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.