Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) has been assigned an average recommendation of “Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$16.04.

Several brokerages have recently weighed in on CVE. Canaccord Genuity upped their target price on Cenovus Energy from C$16.00 to C$18.00 in a research report on Tuesday, July 10th. BMO Capital Markets raised Cenovus Energy from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$15.00 to C$17.00 in a research report on Thursday, May 17th. Citigroup upped their target price on Cenovus Energy from C$11.00 to C$15.00 in a research report on Wednesday, May 23rd. CSFB upped their target price on Cenovus Energy from C$17.00 to C$19.00 in a research report on Wednesday, July 11th. Finally, Raymond James upped their target price on Cenovus Energy from C$14.00 to C$16.00 in a research report on Thursday, July 5th.

Shares of TSE CVE traded up C$0.37 on Wednesday, hitting C$12.08. The company had a trading volume of 5,147,526 shares, compared to its average volume of 4,494,531. Cenovus Energy has a 12-month low of C$9.02 and a 12-month high of C$14.84.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Thursday, July 26th. The company reported C($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.01) by C($0.23). Cenovus Energy had a negative return on equity of 16.53% and a negative net margin of 15.99%. The company had revenue of C$6.03 billion during the quarter, compared to analysts’ expectations of C$5.52 billion.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Thursday, September 13th.

In other Cenovus Energy news, insider Alan Craig Reid purchased 4,100 shares of Cenovus Energy stock in a transaction that occurred on Friday, June 15th. The stock was purchased at an average price of C$12.21 per share, with a total value of C$50,061.00. Also, Director Keith A.J. Macphail purchased 12,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, August 20th. The stock was acquired at an average cost of C$11.99 per share, with a total value of C$143,880.00. Insiders purchased 28,100 shares of company stock valued at $335,541 in the last three months.

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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