Cenovus Energy (TSE:CVE) Given New C$30.00 Price Target at Jefferies Financial Group

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

Several other analysts have also weighed in on CVE. Royal Bank of Canada cut their price objective on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. TD Securities reduced their price objective 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 boosted their target price on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. National Bankshares dropped their price target on Cenovus Energy from C$31.00 to C$29.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Finally, BMO Capital Markets decreased their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy presently has an average rating of "Buy" and an average price target of C$30.33.

Cenovus Energy Stock Performance

Cenovus Energy stock traded down C$0.46 during mid-day trading on Thursday, hitting C$20.56. 5,282,357 shares of the company's stock traded hands, compared to its average volume of 4,671,313. The company has a market cap of C$38.24 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. 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 firm has a 50 day moving average price of C$21.61 and a 200 day moving average price of C$23.32. Cenovus Energy has a one year low of C$20.16 and a one year high of C$29.96.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last posted its quarterly earnings data on Thursday, October 31st. The company reported C$0.42 EPS for the quarter, missing analysts' consensus estimates 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 posted $0.97 EPS. On average, equities analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.50%. Cenovus Energy's payout ratio is 28.69%.

Insiders Place Their Bets

In related news, Senior Officer Jeffery George Lawson purchased 5,000 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average price of C$21.17 per share, for a total transaction of C$105,832.00. Also, insider Cenovus Energy Inc. purchased 44,700 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was purchased at an average cost of C$22.07 per share, for a total transaction of C$986,658.63. Insiders have bought a total of 54,800 shares of company stock valued at $1,203,070 in the last three months. Insiders own 32.03% of the company's stock.

About Cenovus Energy

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.