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

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

A number of other equities research analysts have also recently weighed in on CVE. Desjardins raised their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Raymond James set a C$33.00 target price on Cenovus Energy and gave the company an outperform rating in a research note on Wednesday, May 29th. Scotiabank lowered their target price on Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Finally, National Bankshares lifted their target price on Cenovus Energy from C$36.00 to C$38.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of C$33.54.

Cenovus Energy Trading Up 3.2 %

CVE stock opened at C$23.35 on Monday. The business has a fifty day moving average price of C$25.42 and a 200 day moving average price of C$26.52. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The stock has a market capitalization of C$43.43 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 0.09 and a beta of 2.67. 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 released its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. The business had revenue of C$14.89 billion for the quarter, compared to analyst estimates of C$13.44 billion. Analysts expect that Cenovus Energy will post 2.5066667 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.08%. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Insider Transactions at Cenovus Energy

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

About Cenovus Energy

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.