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

Cenovus Energy (TSE:CVE - Free Report) NYSE: CVE had its price objective trimmed by Jefferies Financial Group from C$33.00 to C$32.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

CVE has been the topic of a number of other reports. BMO Capital Markets decreased their price objective on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. TD Securities lowered their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set a "buy" rating on the stock in a report on Friday, December 13th. National Bankshares reduced 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 note on Thursday. Royal Bank of Canada cut their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, Raymond James increased their price objective on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of C$31.20.

Cenovus Energy Stock Performance

Shares of CVE stock traded up C$0.05 during trading on Friday, reaching C$20.71. 10,164,479 shares of the company's stock traded hands, compared to its average volume of 5,353,047. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The company has a market capitalization of C$38.52 billion, a P/E ratio of 8.25, a PEG ratio of 0.09 and a beta of 2.63. 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's 50-day moving average is C$22.44 and its 200 day moving average is C$24.42.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy's dividend payout ratio (DPR) is currently 28.69%.

Insider Buying and Selling

In other news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average price of C$21.74 per share, with a total value of C$100,004.00. Insiders purchased a total of 9,600 shares of company stock valued at $211,699 over the last three months. Corporate insiders own 32.03% 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.