Jefferies Financial Group Cuts Cenovus Energy (TSE:CVE) Price Target to C$30.00

Cenovus Energy (TSE:CVEFree Report) (NYSE:CVE) had its target price decreased by Jefferies Financial Group from C$32.00 to C$30.00 in a research note released on Thursday,BayStreet.CA reports.

CVE has been the topic of several other research reports. National Bankshares cut their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. BMO Capital Markets decreased their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities dropped their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada cut their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Finally, Raymond James upped their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy has an average rating of “Buy” and a consensus target price of C$30.33.

Check Out Our Latest Research Report on Cenovus Energy

Cenovus Energy Trading Down 2.6 %

CVE stock opened at C$21.02 on Thursday. Cenovus Energy has a 12 month low of C$20.42 and a 12 month high of C$29.96. The firm’s 50-day moving average is C$21.61 and its 200 day moving average is C$23.32. The company has a market capitalization of C$39.10 billion, a PE ratio of 8.37, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last released its quarterly earnings data on Thursday, October 31st. The company reported C$0.42 earnings per share for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. During the same period in the prior year, the company earned $0.97 earnings per share. On average, research analysts anticipate that Cenovus Energy will post 2.2619279 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Friday, December 13th. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insiders Place Their Bets

In related news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. Also, insider Cenovus Energy Inc. purchased 44,700 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of C$22.07 per share, with a total value of C$986,658.63. Insiders have bought a total of 55,300 shares of company stock valued at $1,214,190 in the last quarter. Insiders own 32.03% of the company’s stock.

About Cenovus Energy

(Get Free Report)

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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