Cenovus Energy (TSE:CVE) Given New C$30.00 Price Target at Jefferies Financial Group

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

A number of other analysts have also commented on CVE. Royal Bank of Canada cut their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. National Bankshares cut their price objective 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. Raymond James boosted their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. BMO Capital Markets cut their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Finally, TD Securities dropped 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 research report on Friday, December 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and an average target price of C$30.33.

Cenovus Energy Stock Performance

Shares of CVE opened at C$21.58 on Thursday. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy has a twelve month low of C$20.42 and a twelve month high of C$29.96. The firm’s 50 day moving average price is C$21.66 and its two-hundred day moving average price is C$23.42. The firm has a market cap of C$40.14 billion, a P/E ratio of 8.60, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, October 31st. The company reported C$0.42 EPS for the quarter, missing analysts’ consensus estimates 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 business posted $0.97 earnings per share. On average, analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.34%. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Buying and Selling at Cenovus Energy

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