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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective trimmed by Jefferies Financial Group from C$32.00 to C$30.00 in a report released on Thursday,BayStreet.CA reports.

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

Cenovus Energy Stock Performance

CVE opened at C$21.58 on Thursday. Cenovus Energy has a twelve month low of C$20.42 and a twelve month high of C$29.96. The company has a 50-day simple moving average of C$21.66 and a 200 day simple moving average of C$23.42. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The stock has a market capitalization of C$40.14 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted 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 return on equity of 16.69% and a net margin of 8.54%. During the same quarter in the prior year, the firm posted $0.97 EPS. Analysts predict that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 3.34%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson bought 5,000 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price 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 the firm’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of C$22.07 per share, with a total value of C$986,658.63. Insiders acquired a total of 55,300 shares of company stock worth $1,214,190 in the last quarter. 32.03% of the stock is owned by 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.