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

Cenovus Energy (TSE:CVEFree Report) (NYSE:CVE) had its target price hoisted by Jefferies Financial Group from C$28.00 to C$36.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

CVE has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Scotiabank reduced their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating for the company in a research note on Tuesday, January 16th. BMO Capital Markets increased their price objective on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. National Bankshares cut their target price on shares of Cenovus Energy from C$36.00 to C$29.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. Finally, Desjardins raised 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 research note on Friday, March 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$32.19.

View Our Latest Stock Analysis on Cenovus Energy

Cenovus Energy Price Performance

CVE stock opened at C$28.34 on Friday. The stock has a 50-day moving average price of C$25.20 and a two-hundred day moving average price of C$24.36. The stock has a market cap of C$53.00 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96.

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

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.56 annualized dividend and a yield of 1.98%. Cenovus Energy’s dividend payout ratio (DPR) is presently 26.42%.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. In related news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. Insiders sold 87,000 shares of company stock worth $2,414,507 over the last three months. 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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