Cenovus Energy (CVE) Price Target Raised to C$15.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective raised by TD Securities from C$14.00 to C$15.00 in a research report report published on Thursday. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on CVE. Raymond James increased their target price on Cenovus Energy from C$14.00 to C$16.00 in a report on Thursday, July 5th. CIBC reissued an outperform rating and issued a C$17.00 target price on shares of Cenovus Energy in a report on Friday, October 5th. JPMorgan Chase & Co. raised Cenovus Energy from a neutral rating to an outperform rating and increased their target price for the stock from C$16.00 to C$17.00 in a report on Monday, September 10th. Canaccord Genuity dropped their target price on Cenovus Energy from C$14.00 to C$13.50 in a report on Wednesday, October 24th. Finally, CSFB increased their target price on Cenovus Energy from C$17.00 to C$19.00 in a report on Wednesday, July 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Cenovus Energy presently has an average rating of Buy and an average target price of C$16.42.

Shares of CVE opened at C$11.47 on Thursday. Cenovus Energy has a 1 year low of C$9.02 and a 1 year high of C$14.84.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be given a $0.05 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.74%.

In other news, Director Keith A.J. Macphail acquired 12,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were purchased at an average cost of C$11.80 per share, for a total transaction of C$141,600.00.

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 and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as 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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