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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target trimmed by Jefferies Financial Group from C$36.00 to C$33.00 in a research report report published on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. National Bankshares upped their price objective on shares of Cenovus Energy from C$36.00 to C$38.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Desjardins upped their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Raymond James set a C$33.00 price objective on Cenovus Energy and gave the company an outperform rating in a research note on Wednesday, May 29th. Finally, Scotiabank reduced their target price on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of C$33.54.

Cenovus Energy Stock Down 0.4 %

Shares of Cenovus Energy stock opened at C$22.63 on Monday. The firm has a market cap of C$42.09 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.09 and a beta of 2.67. The stock has a 50-day simple moving average of C$25.49 and a 200-day simple moving average of C$26.54. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00.

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

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.18%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Geoffrey Murray bought 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were acquired at an average price of C$22.54 per share, with a total value of C$72,112.00. In other news, Director Alex Pourbaix sold 200,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$26.03, for a total transaction of C$5,206,700.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, September 17th. The stock was bought at an average price of C$22.54 per share, with a total value of C$72,112.00. Over the last quarter, insiders have purchased 148,200 shares of company stock worth $3,369,477. Insiders own 31.71% of the company’s stock.

Cenovus Energy Company Profile

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.