Jefferies Financial Group Lowers Cenovus Energy (TSE:CVE) Price Target to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price reduced by Jefferies Financial Group from C$36.00 to C$33.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

CVE has been the topic of a number of other reports. Raymond James set a C$33.00 price target on Cenovus Energy and gave the company an outperform rating in a report on Wednesday, May 29th. Desjardins boosted their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Scotiabank cut their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Finally, National Bankshares boosted their price target on Cenovus Energy from C$36.00 to C$38.00 and gave the company an outperform rating in a report on Friday, August 2nd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy presently has an average rating of Buy and an average price target of C$33.54.

Cenovus Energy Stock Performance

CVE stock opened at C$23.35 on Monday. The business’s 50-day moving average price is C$25.42 and its two-hundred day moving average price is C$26.52. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm has a market cap of C$43.43 billion, a PE ratio of 9.30, a P/E/G ratio of 0.09 and a beta of 2.67. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). The firm had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. As a group, research analysts forecast that Cenovus Energy will post 2.5066667 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Geoffrey Murray purchased 3,200 shares of the stock in a transaction on Tuesday, September 17th. The shares were purchased at an average price of C$22.54 per share, with a total value of C$72,112.00. In other Cenovus Energy news, Senior Officer Geoffrey Murray purchased 3,200 shares of the stock in a transaction on Tuesday, September 17th. The shares were purchased at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Keith Chiasson purchased 25,000 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of C$23.40 per share, for a total transaction of C$585,000.00. Over the last quarter, insiders have purchased 148,200 shares of company stock valued at $3,369,477. 31.71% of the stock is owned by insiders.

About Cenovus Energy

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.