Jefferies Financial Group Lowers Cenovus Energy (TSE:CVE) Price Target to C$30.00

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) had its target price reduced by equities researchers at Jefferies Financial Group from C$32.00 to C$30.00 in a report released on Thursday,BayStreet.CA reports. Jefferies Financial Group’s target price would suggest a potential upside of 38.31% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. TD Securities reduced 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. Royal Bank of Canada reduced their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. BMO Capital Markets dropped their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Raymond James raised their target price on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Finally, 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$30.33.

Get Our Latest Research Report on Cenovus Energy

Cenovus Energy Trading Up 0.5 %

Shares of TSE:CVE traded up C$0.11 during trading on Thursday, reaching C$21.69. The stock had a trading volume of 1,096,255 shares, compared to its average volume of 4,439,888. Cenovus Energy has a 52 week low of C$20.42 and a 52 week high of C$29.96. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. The firm’s fifty day moving average is C$21.66 and its 200 day moving average is C$23.42. The stock has a market cap of C$40.34 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last issued its quarterly earnings results 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 in the prior year, the firm posted $0.97 EPS. As a group, equities analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Jeffery George Lawson bought 5,000 shares of the stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of C$21.17 per share, for a total transaction 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 stock was acquired at an average price of C$22.07 per share, for a total transaction of C$986,658.63. In the last quarter, insiders have purchased 55,300 shares of company stock valued at $1,214,190. 32.03% of the stock is owned by company insiders.

About Cenovus Energy

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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