Cenovus Energy (TSE:CVE) Price Target Cut to C$33.00 by Analysts at Jefferies Financial Group

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price cut by Jefferies Financial Group from C$36.00 to C$33.00 in a research note released on Monday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

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

Cenovus Energy Price Performance

TSE:CVE opened at C$22.63 on Monday. 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 company has a 50-day moving average of C$25.49 and a 200-day 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 market capitalization of C$42.09 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 16.69% and a net margin of 8.54%. As a group, equities research analysts anticipate that Cenovus Energy will post 2.5066667 earnings per share 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. Investors of record on Friday, September 27th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.72 annualized dividend and a yield of 3.18%. Cenovus Energy’s dividend payout ratio (DPR) is 28.69%.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$26.03, for a total value of C$5,206,700.00. In other news, Senior Officer Jeffery George Lawson purchased 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of C$27.21 per share, with a total value of C$95,235.00. 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. In the last 90 days, insiders purchased 148,200 shares of company stock worth $3,369,477. 31.71% of the stock is currently owned by corporate insiders.

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.