Raymond James Raises Cenovus Energy (CVE) Price Target to C$14.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price raised by Raymond James from C$13.00 to C$14.00 in a research report released on Thursday, BayStreet.CA reports.

A number of other research analysts have also weighed in on CVE. AltaCorp Capital lowered Cenovus Energy from an outperform rating to a sector perform rating in a report on Monday, January 7th. Canaccord Genuity dropped their price objective on Cenovus Energy from C$12.50 to C$12.00 in a report on Thursday, January 10th. Barclays dropped their price objective on Cenovus Energy from C$17.00 to C$16.00 in a report on Thursday, January 10th. CSFB reaffirmed an outperform rating and set a C$15.00 price objective on shares of Cenovus Energy in a report on Monday, January 28th. Finally, Morgan Stanley dropped their price objective on Cenovus Energy from C$15.00 to C$12.00 in a report on Wednesday, January 30th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of C$15.36.

Shares of CVE stock opened at C$13.47 on Thursday. Cenovus Energy has a 1-year low of C$8.74 and a 1-year high of C$14.84. The firm has a market cap of $16.55 billion and a P/E ratio of -6.20. The company has a current ratio of 1.10, a quick ratio of 0.65 and a debt-to-equity ratio of 56.55.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Wednesday, February 13th. The company reported C($1.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.21) by C($1.15). The company had revenue of C$4.55 billion during the quarter, compared to analysts’ expectations of C$5.03 billion. Equities analysts predict that Cenovus Energy will post 0.8 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, June 13th. Cenovus Energy’s dividend payout ratio (DPR) is -9.21%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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