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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective reduced by Jefferies Financial Group from C$32.00 to C$30.00 in a report issued on Tuesday,BayStreet.CA reports.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada lowered their price target on Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. BMO Capital Markets lowered their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities cut their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. National Bankshares cut their price objective on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James raised their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$30.44.

Cenovus Energy Stock Up 0.2 %

Cenovus Energy stock opened at C$21.59 on Tuesday. The firm has a market capitalization of C$40.16 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The firm’s fifty day moving average price is C$21.76 and its two-hundred day moving average price is C$23.62. Cenovus Energy has a 1-year low of C$20.42 and a 1-year high of C$29.96. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results 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 quarter in the prior year, the firm posted $0.97 earnings per share. On average, equities research analysts predict that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, December 13th. Cenovus Energy’s payout ratio is currently 28.69%.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 5,000 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of C$21.17 per share, for a total transaction of C$105,832.00. Also, insider Cenovus Energy Inc. purchased 44,700 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were bought at an average price of C$22.07 per share, for a total transaction of C$986,658.63. In the last ninety days, insiders acquired 55,300 shares of company stock worth $1,214,190. Corporate insiders own 32.03% of the company’s stock.

About Cenovus Energy

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.