Jefferies Financial Group Issues Pessimistic Forecast for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lowered by analysts at Jefferies Financial Group from C$32.00 to C$30.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 42.72% from the stock’s current price.

A number of other research firms have also issued reports on CVE. Royal Bank of Canada lowered their target price on shares of Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. Raymond James lifted their price objective on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. BMO Capital Markets lowered their target price on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities dropped their price target on 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. Finally, National Bankshares reduced their price objective on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and an average target price of C$30.33.

Cenovus Energy Stock Performance

CVE opened at C$21.02 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. The company has a market cap of C$39.10 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The stock has a 50-day moving average of C$21.61 and a 200-day moving average of C$23.34. Cenovus Energy has a 52-week low of C$20.42 and a 52-week high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly 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 net margin of 8.54% and a return on equity of 16.69%. During the same period last year, the company posted $0.97 EPS. As a group, equities research analysts forecast that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Cenovus Energy Inc. acquired 44,700 shares of the stock in a transaction dated Monday, December 2nd. The shares were bought at an average cost of C$22.07 per share, for a total transaction of C$986,658.63. Also, Senior Officer Jeffery George Lawson bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of C$21.17 per share, with a total value of C$105,832.00. 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.