Cenovus Energy (TSE:CVE) Price Target Cut to C$30.00 by Analysts at Jefferies Financial Group

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price cut by Jefferies Financial Group from C$32.00 to C$30.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

Several other equities analysts have also recently weighed in on CVE. Raymond James boosted their price objective on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Royal Bank of Canada cut their price target on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. BMO Capital Markets lowered their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. National Bankshares dropped their target price on shares of 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, TD Securities reduced their price target on shares of 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$30.44.

Cenovus Energy Trading Down 3.1 %

TSE:CVE opened at C$21.50 on Tuesday. The company’s 50 day moving average is C$21.78 and its 200-day moving average is C$23.70. 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 has a 12 month low of C$19.82 and a 12 month high of C$29.96. The firm has a market cap of C$39.99 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 0.09 and a beta of 2.63.

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

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Activity

In related news, Senior Officer Jeffery George Lawson acquired 5,000 shares of the business’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of C$21.17 per share, with a total value of C$105,832.00. Also, insider Cenovus Energy Inc. bought 44,700 shares of Cenovus Energy stock in a transaction dated Monday, December 2nd. The stock was purchased at an average price of C$22.07 per share, for a total transaction of C$986,658.63. In the last 90 days, insiders acquired 55,300 shares of company stock worth $1,214,190. 32.03% of the stock is currently owned by corporate insiders.

Cenovus Energy Company Profile

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.