Cenovus Energy (TSE:CVE) Price Target Lowered to C$30.00 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 published on Tuesday morning,BayStreet.CA reports.

Several other research firms have also issued reports on CVE. Royal Bank of Canada reduced 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 reduced their target price on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities lowered their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Raymond James increased their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Finally, National Bankshares decreased 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 report on Thursday, December 19th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$30.44.

Cenovus Energy Stock Down 3.1 %

Shares of TSE CVE opened at C$21.50 on Tuesday. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The firm’s 50-day moving average is C$21.78 and its 200-day moving average is C$23.70. 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 capitalization of C$39.99 billion, a PE ratio of 8.57, a price-to-earnings-growth 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 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 last year, the business earned $0.97 earnings per share. Equities analysts expect that Cenovus Energy will post 2.2619279 EPS for the current year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 3.35%. The ex-dividend date was Friday, December 13th. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,600 shares of Cenovus Energy stock in a transaction dated Friday, December 13th. The stock was bought at an average price of C$21.74 per share, with a total value of C$100,004.00. Also, insider Cenovus Energy Inc. purchased 44,700 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was acquired at an average price of C$22.07 per share, with a total value of C$986,658.63. In the last ninety days, insiders bought 55,300 shares of company stock worth $1,214,190. Insiders own 32.03% of the company’s stock.

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.