Jefferies Financial Group Cuts Cenovus Energy (TSE:CVE) Price Target to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price trimmed by Jefferies Financial Group from C$33.00 to C$32.00 in a research note released on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently commented on CVE. National Bankshares reduced their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada reduced their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. BMO Capital Markets lowered their price target on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. TD Securities cut their price objective on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Raymond James raised their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of “Buy” and a consensus price target of C$31.20.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$20.71 on Friday. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company’s fifty day simple moving average is C$22.37 and its 200-day simple moving average is C$24.34. The firm has a market cap of C$38.52 billion, a PE ratio of 8.25, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s payout ratio is presently 28.69%.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson bought 4,600 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average price of C$21.74 per share, for a total transaction of C$100,004.00. In the last 90 days, insiders purchased 9,600 shares of company stock worth $211,699. 32.03% of the stock is owned by insiders.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.