Jefferies Financial Group Raises Cenovus Energy (TSE:CVE) Price Target to C$36.00

Cenovus Energy (TSE:CVEFree Report) (NYSE:CVE) had its price target boosted by Jefferies Financial Group from C$28.00 to C$36.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts also recently issued reports on the company. National Bankshares cut their target price on Cenovus Energy from C$36.00 to C$29.00 and set an outperform rating on the stock in a research report on Wednesday, January 10th. Desjardins lifted their target price on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the company a buy rating in a report on Friday, March 22nd. BMO Capital Markets raised their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. CIBC raised their price target on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the company an outperform rating in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of C$32.19.

Read Our Latest Report on CVE

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at C$28.85 on Friday. The stock’s 50-day simple moving average is C$25.06 and its 200-day simple moving average is C$24.39. 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$53.95 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.09 and a beta of 2.78. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The company had revenue of C$13.13 billion for the quarter, compared to analysts’ expectations of C$13.06 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, analysts expect that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 26.42%.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In related news, Senior Officer Gary Frederick Molnar sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of C$29.06, for a total transaction of C$697,332.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. Insiders have sold 87,000 shares of company stock valued at $2,414,507 over the last quarter. Corporate insiders own 31.50% of the company’s stock.

Cenovus Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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